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Home My WebLink About1954 Report of Examination--00000-- REPORT OF EXAMINATION ND SUPPLEMENTARY D TA VILLAGE OF EDINA, MINNESOTA December 31s 1954 EMOTIOTOTMISM W ACCOUNTANTS' REPORT ............... ooeoeeo.eo..e000e.e PAGE 13 OMMEC NTS o 0 0 0 o o o o e o o e o o o c o. o o o o e e o. e e e e o. o. o e. o o. o. e o `'h �. FUNDBALANCE SHEETS ... 000 ....... o..o.o..ee..eoeeooeoo 17 GENERAL FUND- dSTATEMENT OF SURPLUS ............... e .... oo..o.e..00 19 COMPARATIVE RECEIPTS.... o ....... ..000eoe.00eeooeo.. 21 COMPARATIVE DISBURSEMENTSo ..o....o ...... 0000.00eebe 23 FIXEDASSETS. 000000000000000000000 *0000000000000000 28 POOR FUND - STATEMENT OF SURPLUS o UNAPPROPRIATED ........ .. 0.- 29 ANALYSIS OF CHANGES IN CASH BALANCE.......... :00000 30 PARK FUND: STATEMENT OF SURPLUS UNAPPROPRIATED .............. 31 ANALYSIS OF CHANGES IN CASH BALANCE ........... o.... .32 COMPARATIVE DISBURSEMENTS ........ o ....... oo.0000000 33 FIXED ASSETS . o. eo... o0000a0a0000a00a00000a0000e.00a 35 IMPROVEMENT FUNDS - CONSOLIDATED BALANCE SHEET .............00.oeo.00.e. 36 STATEMENTOF SURPLUS ............... o..000000o000000 37 ANALYSIS OF CHANGES IN CASH BALANCES..00. ....... o.. 38 SPECIAL ASSESSMENTS RECEIVABLE- CURRENT AND DELINQUENT ..o ...... o.o ........ ...e.e.. 40 DEFERRED.o. oo. oeo o .000eoeo.000000.ee00000eo.00000 1+1 CONSTRUCTION IN PROGRESS- CURRENTo e e e o o e o e o e o e o o e e o 0 0 o e o e e e o e 0 0 0 e e e o 0 0 0 e o 0 0 43 DEFERREDo 90000 oee oae e000aoe000eo9ooeeooeo9ooeeoee 1+5 SUMMARY OF RESERVE FOR ASSESSMENT ADJUSTMENTS AND OUTSTANDING ASSESSMENTS AND BONDS.. ...... o ... . 1+8 CONTRACTSPAYABLE.. 000eoo 0000000000e0000e00000000 -e 53 BONDS PAYABLE.... o ..... o o ... o o . o ... e o o. o o o e e e o o o o o o 5!+ BONDS PAYABLE AND BOND INTEREST OF - SPECIAL ASSESSMENT FUNDS.o ... o .... o ... ..00000..o . o 55 AMOUNT PAYABLE TO CITY OF MINNEAPOLIS m SEWAGEDISPOSAL PLANT ...00..00 ... 00000.00000'0.6.00. 56 INDEX (Cont:d) WATERWORKS FUNDS STATEMENT OF SURPLUS . ..............ee.e..e.e..00e.ee PAGE �7 COMPARATIVE STATEMENTS OF INCOME AND EXPENSE........ $$ FIXED ASSETS ...................... o.eoo.000000.00000 60 GARBAGE FUNDS STATEMENT OF SURPLUS ...... o ...... o ..... 0000000000000 61 COMPARATIVE STATEMENTS OF INCOME AND EXPENSE.o...... 62 ANALYSIS OF CHANGES IN CASH BALANCE ...... o..o..o...o 63 SEWER RENTAL FUND: STATEMENTOF SURPLUS ............ o.......o ...... .....e 64 COMPARATIVE STATEMENTS OF INCOME AND EXPENSE........ 65 ANALYSIS OF CHANGES IN CASH BALANCE ...... o....oe..ee 66 LIQUOR DISPENSARY FUNDS STATEMENTOF SURPLUS ............... o .... u.000000e000 67 COMPARATIVE STATEMENTS OF INCOME AND EXPENSE........ 68 FIXEDASSETS ..... 000. .o ........ 000e.ee000000e000e000 69 GENERAL SCHEDULES: CASH— ALL FUNDS ... .........eeeee....0000000...eeo 70 SECURITYFOR DEPOSITS....... o.eee...e.e000000eee..o. 71 INVESTMENTS........ o ....... o.o ... 000eoee00000.00000e 72 TAXABLE VALUATIONS, TAX LEVIES, AND RATES00000000000 7� ORGANIZATION.e.. oee. oe .oee..eoeeeeeo...,...e0000e...e 7 OFFICIALBON�D�Se. o.o e. ....eoe..eoeee...e.00eooe..eeee 75 MUNICIPAL COURT FINES...ee .... ....... ee0000000eoose 76 INSURANCEooe000. 0000 00000000000000000 ..eeeee..cee.e. 77 ®®00000 —m AKRON 1 ATLANTA BALTIMORE E R -N S T& E R N S T \� BIRMINGHAM BOSTON , BUFFALO CANTON ACCOUNTANTS AND AUDITORS CHICAGO CINCINNATI CLEVELAND COLUMBUS - SYSTEM SERVICE DALLAS DAYTON DENVER DETROIT ERIE FORT WORTH GRAND RAPI DS MINNEAPOLIS HOUSTON INDIANAPOLIS KALAMAZOO FIRST NAT L -SOO LINE BLDG. KANSAS CITY LOSANGELES - LOUISVILLE DELIVERY ZONE 2 MEMPHI5 MIAMI MLWAUKEE MINNEAPOLIS - To the Village Council Village of Edina, Minnesota NEW ORLEANS NEW YORK PHILADELPHIA PITTSBURGH PORTLAND, ME. PROVIDENCE READING RICHMOND ROCHESTER ST. LOUIS ST. PAUL SAN ANTONIO SAN FRANC SCO SEATTLE TOLEDO WASHINGTON WINST ON -SALEM YOUNGSTOWN TORONTO, CANADA CORRESPONDENTAT. LONDON CABLE ADDRESS "ERNSTAUDIT" N. Y. We have examined the balance sheets of the various funds of the VILLAGE OF EDINAe MINNESOTA, as of December 318 19548 and the related statements of cash receipts and disbursements or income and expense and surplus for the year then ended. Our examination was made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the accompanying balance sheets and state- ments of cash receipts and disbursements, income and expense and surplus present fairly the financial position of the VILLAGE OF EDI at December 318 195'9 and its various special funds and the results of their opera- tions for the yeas° then ended, in Conformity with generally accepted accounting principles applied on a basis consistent with that of the preceding year. Certified Public Accountants Minneapolis Minnesota July 89 195' Our certificate or report upon an audit or examination is delivered to client with the distinct understanding that any advertisement, publication, or copy therefrom, in full or in part, of such certificate or report, shall be in the form to be approved by us. As a preventive against fraud, attention is directed to the fart that all pages in this report should bear our water mark. -3� J C OMMENTS The following comments relate to the scope of our examination and tD the accompanying financial statements: SCOPE OF EXAMINATION The General Fund imprest cash, cash working funds, municipal liquor store cash for deposit, and municipal court working fund were counted by us as of December 31, 1954. Deposits in transit at year -end were con- firmed by direct correspondence with the depository. Demand deposits were reconciled to the balances reported directly to us by the depositories. Our examination of cash transactions included inspection of canceled checks and comparison thereof with recorded disbursements for periods as selected by us, and the reconciliation of recorded receipts for the same periods with deposits as shown by bank statements. In addition to inspection of claims in connection with the analysis and classification of items in the various funds, our examination included inspection of vouchers and.claims for selected periods and the tracing of authorization to the minutes of the Council. Government securities and interest received thereon were confirmed by direct correspondence with the bank holding the securities for safekeeping. Current special assessments collectible in 1955 were reviewed by us and reconciled to the amounts as shown by the records of the County Auditor. Delinquent special assessments and delinquent taxes were reviewed by us and compared with the balances reported by the County Auditor. Minor differences, the greater portion of which had been carried over from pre- vious years, were not checked out. We reviewed the transactions pertaining to deferred assessments receivable. We supervised the mailing of water, sewer rental, and garbage customers, statements as of December 31, 1954, such statements bearing a request that we be notified of any differences. All differences reported to us to the date of this report have been satisfactorily explained. Subse- quent payments on water, sewer rental, and garbage accounts receivable were reviewed by use The amounts due from other funds were balanced with the amounts payable as shown by other funds. Interfund transfers and charges were reviewed by use We were present at the time physical inventory was taken at the municipal liquor store to observe procedures followed and to make test counts thereof. We reviewed the perpetual records of liquor and -wine inventories, made tests as to the transactions recorded and reviewed the adjustment of book quantities to inventory counts. We tested the prices used in the valuation of the inventory by reference to purchase invoices and other data and reviewed the clerical computations° Inventory of water meters was counted by us at December 31, 1954, and traced to perpetual records. _4® The major additions to fixed assets were supported by inspection of invoices or other data. Computation of the provision for depreciation in the Waterworks Fund and Liquor Dispensary Fund were reviewed by use Payments to contractors on assessment projects were fully supported and costs, other than contract payments, were tested by use Clerical and engineering charges were checked by use We reviewed the transfer of construction costs from the Construction Fund to the Improve - ment Funds on assessment projects completed during the year. Provision has been made in the balance sheet for all ascer- tained liabilities of the Village at December 31 1954. Accounts payable were tested by direct correspondence or other data in the Village files. Contracts payable on assessments projects were adjusted for over and under runs, by inspecting subsequent final payments prepared by the engineering department.-' We reviewed the calculation of accrued interest and the appropriation of cash for payment of bonds and interest. Canceled bonds and interest coupons, which had been redeemed during the year, were inspected by us. The amount due to the Minneapolis-Saint Paul Sanitary Sewer District was confirmed with the Minneapolis City Comptroller. We made a general review of the system of internal control and of the operating accounts for the year ended December 31, 1954- Income and receipts, expenses and disbursements were reviewed as to adequacy of classification and conformity with classification for the preceding year. Such other tests and analyses of accounts were made as we considered necessary. Tax settlements received during the year were confirmed with the County Auditor. Copies of licenses and permits issued were compared with recorded collections' Dog license income and tag numbers were accounted for. Fines collected were verified by inspection of the docket of the Municipal Courto Duplicate receipts on parking violations were compared with recorded collections. Copies of official general receipts were compared with recorded collections for periods selected by use . Minutes of the meetings held by the Cobxicil 'during the year were read by use Construction projects in progress and initiated during the year were traced to minutes of the Council as to date of petition, hearing, authorization for advertising for bids', bids received, contracts awarded, and hearing on and approval of assessments. ®5_ N COMMENTS ON FINANCIAL STATE14ENTS GENERAL FUND There is included herein a'statement of cash receipts and disbursements for the year 1954 in comparison with a'similar statement for the year 1953. As the aforementioned statement includes both operating and non-operating items, we have reconstructed the statement for the year 1954 (that for the year 1953 was similarly reconstructed in our report for that year) to show the operations on an accrual basis in comparision with the related budgeto REVENUES Gene ,ral taxes Forfeited tax sale apportionment Interest and penalties Mortgage registry tax Licenses and permitso Plumbers' licenses Building permits Plumbing, sewer and cesspool permits Dog licenses Other.licenses and permits Liquor tax apportionment Cigarette tax apportionment Clerical for other funds 9 engineering and adminis® trative fees Street and sidewalk repairs Rentals of land, buildings, and equipment Election filing fees Fines (excluding county and state cases) Sale of maps and services Nori- revenue income Contribution from Liquor Fund Contribution from Independent School District No'. 17 Sundry TOTAL Actual Estimated Actual Over - Under* $2779440000 $2769687.51 $ 0000 7.1 190000.00 x.913300 59000-.00 5 9 65616 $ 19000000 $ 19218.00 10 9-900.00 . 259788-30 4,700000 19000000 2 020.00 199 20000 99000000 89500000 449900000 4,200000 300000 10000 319500000 110000 -o- 59165025 1916850 2.576.04 359916.09 109133°76 99256080 469322026 29948028 49597016 8.00 25,109-75 245076 119,693-93 752.1+9* 42.87* 133004 656°16 $ 218.00 149888030 465025 168 50 6004 199.09 19133.76 756080 19422026 19251072* 49297016 2000* 691.35.76* 1199693-93 mo® 1,98.50 19398.50 310.00 �81+- 74 174 0 74 $4019940000 05399598-87 $1379658087 -6- GENERAL FUND (Cont2d) EXPENSES General Government Public safety-. Police Fire Inspection Public works Sanitation and waste removal Unallocated expenses-. Workmenus compensation ..insurrance Audit Contingencies Equipment rental Library Adjustment of special assessment assumed by General Fund Contribution to Park Fund Sundry Tree trimming Health officer Dog catcher Civilian defense Capital outlay-. Land Buildings Highway department Furniture and fixtures Police department Engineering department Special assessments on Village property Traffic signals Library Miscellaneous equipment TOTAL Estimated $ 879811000 $ 498600000 78000000 9.000.00 8 00.00 .1369975.00 31825.00 $ 28500000 49500000 59000000 319929000 ®a- ® ®m ®om 39929.00 39750000 450000 28000000 250000 $ mom 109300000 208000000 119172050 38200000 39152.-00 29500000 59500000 mom 1,.525-50 7a1 Oo00 $4019940°00 Actual $ 959859.30 $ 518513026 10882 .79 1 71� 910 1259538.7 39271007 $ 3 8 6210'81 5968750 488°93 349707066 19290033 641004 18500000 31+5-48 8-92-82-75 59960002 490080 29348063 285039 $ 59500.00 909785-91 49681°22 12936825 2 � -889 a 76 19'8340 85 49763-73 59217060 1,777060 10927066 E1339746058 $4879674.77 Actual Over ®Under* $ 8,048030 $ 18913026 398� .7i 0 6-9291-76 119.553-93* 36053* $ 18121081 19187.50 49' 511.07* 22778.66 19290°33 641004 19500°00 345048 4,353-75 29210002 40080 348.63 3539 $ 59500000 809485-91 159318-78* 19195 7� 310.24* 19317oi5* 29263073 282.40* 19777060 20402016 W f wjdl��U $ 859734.77 In cases where special improvements are financed by bond issues and a portion of the cost of such improvements is payable by the General Fund, annual levies are made for bond retirement and interest charges which go directly to the Improvement Fund and are not included as a part of the General Fund operation. SUMMARY Excess of actual revenues over estimated $137,658-87 Less excess of actual expenses over estimated 859734077 INCREASE $ 519924010 -7- GENERAL FUND SURPLUS a ante at ecem er 319 1953 $ 589661036 Deduct expenditures in excess of revenue for year 51.924.10 1109 0 Transferred from surplus invested in fixed assets 3m900o00 Balance at December 319 1954 $1149485046 From the foregoing it will benoted that revenues exceeded the budget by $137,658-87, of which the major portions consisted of a transfer from available surplus of the Liquor Fund of $119,693-93 and a building permit for the Southdale development of $129000000° The principal reason for the increase in expenses over the budget by $85,74077 was the cost of the new Village Hall of $809485.91° POOR FUND Surplus increased from $6,717028 at'January 1 19549 to $8,Z77.26 at December 319 1954. Revenue receipts totaled $6,443.319 while disbursements and accruals for expenses aggregated $69383.33 A tax levy of three - tenths of one mill was levied in 1954 (collectible in 1954) which is expected to realize approximately $49100000° Comparative figures for 1954 and 1953 show,the changes that have occurred in the operation. PARK FUND The change in Park Fund deficit is summarized as follows: Balance at January 19 1954 $19631052 Add excess of disbursements and accruals over revenue receipts° Disbursements and accruals $3291 2033 Receipts 27 ,,0 050 llle_8 Balance at December 31, 1951+ 66,743-35 Special assessments on Park Fund property in an amount of $3,533091 were paid by the General Fund and were credited to contributed surplus invested in fixed assets. During the year contracts were -entered into for the acquisition of property for parks and playground purposes at an aggregate cost of $89970.00, of which $49270°00 was paid and is to be reimbursed by the General Fund. The balance of $4,700000 has been reflected in the balance sheet and is expected to be covered by transfers from the General Fund. The unpaid balance of the contracts is due as follows: June 19 1955 $19600000 August 19 1955 1 00o00 $39100.00 June 19 1956 -11600.00 TOTAL $49700000 IMPROVEMENT FUNDS The Council authorized the establishment of a Construction Fund and the loan to it by the General Fund for working purposes of $50,000°00 by resolution on June 30, 1952 effective as of December 319 1951° It also authorized the transfer to the Construction Fund of proceeds of bonds sold for construction purposes by the Improvement Funds. The accounting for construction costs has been facilitated by the establishment of the Con- struction Fund. The cash balance of the Construction Fund and the advances from other funds are analyzed and summarized as follows Total Advances Improvement Fundso 19.50 First Series $ 29530041 1950 Second Series 19336036 1951 First Series 19658090 1951 Second Series 109076071 1952 First Series 389199081 1953 First Series 139309028 Sanitary'Sewer No. 53 29224058 Southdale Improvement 119717 37 1954 First Series 449145051 1954 Second Series 236473-04 Other funds°3611671-97 Advance from General Fund 509000000 Due from other funds: General $ 129085 Permanent Improve- ment Revolving 119600029 11,730..14* Due to other funds: General $ 699.31 1954 First Series 265000 Permanent Improve - ment Revolving 320000 12284.31 Net total due to other funds $4019226014 Construction costs (to be assessed)- Permanent Improvement Revolving Fund Unallocated Cash provided by- Water main and sewer Accounts payable Re resented by-, ash Investments * Indicates red figure. Construction in Progress Current $ 860028 19424004 59949046 '948-74 39648021 159,870028 $172,701-01 2982718 7,498036 $1839026055 connection deposits $ 109948077 86000 Balance m December _115go0oo00 Cash Available fcr Construction $ 2,530041 1, 7980 62 8,652067 32,25003 12,36o.9 11-9717.37 40,497030 76,602°76 $1881970.96 50,000000 119730014* 19284031 29827018* 79498036* 11 40 62299734-34 $2299734036 r IMPROVEMENT FUNDS (Cont'd) Analysis of the unencumbered cash provided by proceeds from bond sales of the various Improvement Funds is presented in the following schedule: Balance of advances at January 1, 1954 Additions: Proceeds from bond sales -- transferred Adjustments and cancellations Deductions: Constructions costs transferred during 1954 .Balance of advances at December 31, 1954 Less construction..in progress - current at December 31, 1954 Cash available for construction Less construction in progress deferred .at December 31, 1954 t: Overage or deficit* in funds transferred to Construction Fund Less proceeds from .bond sales retained by the Improvement Funds 1950 Improvement Funds First Second Total Series Series $ 4412689°14 $22093.41 $ 11336.36 923,903 69 562.36 $1,3662155.19 1,004,483.22 $ 361,671.97 172,701001 $ 188,970.96 281,619.34 437°00 $2,530.41 $ 1,336.36 $27530.41 $ 17336.36 $2,530.41.$ 12336.36 $ 921648.38* $2,530.41 $ 1,336036 2183284.360 Unencumbered balance at December 31, 1954 $ 1252635.98 $29530.41 $ 12336.36 Note A - Proceeds from sale of bonds retained by the Improvement Funds are shown on the combined balance sheet as follows: - Cash on Total Deposit Investments. 1953 First Series $ 182212.09 $ 212.09 $ 182000.00 Southdale 257.39 257.39 1954 Second Series 1999814.88 199,814.88 $ 218,284.36 $ 469.48 $2172811+.88 * Indicates red figure. 1952 1953 Improvement Improvement 1951 Improvement Funds Fund Fund First Second First First Series Series Series Series $ 4931+1.10*_$62,26901+5*$49,347.87 $196,938.06 Sanitary Sou.thdale Sewer Improvement No. 21 . Fund $213,583.99 $ 45,000.00 1954 Improvement Funds First Second Series Series $ -o- $ -o- 6,000.00 75,000.00 517000.00 192218.57 257,500.00 175,000.00 34o,185.12 125.36 $12658.90 $129730.55 $497473.23 $ 2479938.06 $2321802.56 $3022500.00 $175,000.00 $340,185.12 2,653.84 11.273.42 234,628.78 230,577.98 290,782.63 130.854.49 1034712.08 $12658.90 $10,076.71 538,199081 $ 137309.28 $ 2,224.58_6 11,717.37.$ 447145.51 $236,473.04 860.28 1,424.04 5,942.46 948.74 3648.21 159,870.28 $ 798.62 $.8,652.67 $329250.35 $�12,360e..54 $ 27224.58.$ 14717.37 $ 401497.30 $ 762602.76 3,013041 92956.11 5,602.41 13,366.91 113091.11 238,589.32 798.62 $ 51639.26,$229294.24 $ 69758.13 $ 29224.58 $ 12649.54 *$ 299406.19 $161,986.63* 18,212.09 257.39 1992814088 $ 798.62 $ 51639.26 $222294.24 249970.22 $ 22224.58 6 11392.15 *$ 29,406.19 $ 37,828.25 -10- J IMPROVEMENT FUNDS (ContQd) Unapplied connection charges represent charges made to property owners in new lateral districts for connecting to an existing trunk sewer district assessed and paid for by the property owners in such trunk district. This is now principally in connection with Joint Sewer District No. 19 originally constructed at the time the Minneapolis -Saint Paul Sanitary District was organized. A portion of such charges will be used to pay any balance of costs of Joint Sewer District No. 1 to the City of Minneapolis over the period ending with the year'1968o The disposition of other connection charges has not been determined. The reserve for assessment adjustments represents the excess of assessments over actual costs, less in some instances charges where actual costs exceeded the assessment. Any excess in this account should be used for cancellation of assessments or refunds to property-owners in those instances where-the entire assessment has been paid. It is suggested that the different projects be reviewed annually for the purpose of determining the feasibility of possible cancellation or refunds or reassessments for deficiencies. Unallocated construction costs in.the amount.of $839662016 repTesents construction costs which are to be recovered by connection *. charge to future lateral sewers and water mains which azr°e serviced by the Southdale sewer trunk and water districts Also included in the above figure are construction costs, of Southdale well and pump which are to be paid for by the Waterworks Fund. The costs applicable to the well and pump will be transferred to the Waterworks Fund during ,1955 upon completion of the construction. During 1953 the Village established the policy of including as a part of the construction costs of special improvements interest costs from the date of the bond issue to the date of the final assessment hearing. _11® �l WATERWORKS FLM The operations of the fund are shown in detail in a separate schedule and are summarized as follows: Gross income Expenses. Pumping Distribution Administrative and general- OPERATING INCOME Other income Other deductions NET INCOME $939023057 $169163-00 309242041 &488-1+3 38,129-73 162060 $389292.3 R s362 02 $321923009 153 $801970040 $19337.47 179952042 7.865.50 1 3 1 001 44o082 63692qq083 5,6 5093 $301609.90 Increase Decrease* $121053.17 $ 3 174047* 129289-99 6220 0 2931 072 278.22* 21036.5-0 276069* $ 2131319 Per Cent to Gross Income 1 1 100.0% 100001. 1.7 it-of 23.9% 320 22x1 of o 0 0 0 10 0 03 02 to .8 a0 35.4% 37.8% The depreciation rates were revised for the year ended December 311.19549 as follows. Original. Revised Buildings 3o4% 4 r Wells 2 4 Pumps 4 5 Distribution system 1 1/3 2 Tanks.and towers 3 4 Office equipment 5 10 The revision of depreciation rates for the yeap ended December 31,,19 54, resulted-in increased charges of $8,311.14 to income over the amounts on the basis of rates heretofore used. Gross income for the years 1954 and 1953 included hydrant fees from the General Fund for fire protection in the amounts of $61050000 and $4 000.001 respectively, such charges having been made on the basis of 1/2 mi l on the tax levy. Segregated fund for debt retirement represents amount set aside in accordance with the terms of the bond issues. In view of the substantial growth of the Village, and the related use of unmetered water for sewer and other purposes, it is suggested that the charges by the Water Fund to other funds for water should be revised to amounts more consistent with the service rendered. -12- W GARBAGE FUND The following schedule compares the operations of the fund for the years 1951+ and 1953: Per Cent Increase to Income 1224 101 Decreases 1 Operating income $279130083 $271041070 $ 89-13 100.0% 10000% Expenses° Collection service $249627070 $241421063 $206007 9008% 9003% Administrative and general 13169043 11226060 57-17* 4.3 4.5 $259797.13 $259648023 $ 95a10 940 OPERATING INCOME $ 17333-70 $ 19393-1+7 a $ 59077* 409% 502% Other income 8043 34051 13.22 02 01 NET INCOME $ 15382013 ---- - - - - -- $ 19427.98 ---- - - -- -- $ 45.85* - - - - - -- 5.1% - - - - -- 503% - - - - -- The factors contributing to the increase in operating income are summarized as follows: Increase resulting from increased customers $133045 Decrease in forfeited discounts i +.32 TOTAL INCREASE IN GROSS INCOME $ 89013 The factors contributing to the increase in operating expenses are summarized as follows: Increase in number of customers served $126660 Decrease in refunds for prior years 8004 TOTAL INCREASE IN COLLECTION EXPENSE $206007 SEWER RENTAL FUND The operations for the year, shown in a separate schedule, are summarized as follows: Per Cent to Billings Expenses: Operating Administrative and general OPERATING INCOME Other income NET INCOME Increase Billings 1954 1953 Decrease* 1 " 1 $189572.90 $169871010 $13701080 1000,0% 10000% $159485050 $13,296076 1,1581 $16,643.63 t-1929.27 316013 $ ..21245040 19182082 $14,479-58 $ 2,391052 384002 $ 29775.54 $2,188074 24069* §22164.02 20 * 67-82* $ 530014* 8304% 602 s o6 �.o 0 10 1201% 00 14. -2 203 ml3- LIQUOR DISPENSARY FUND The detailed comparative statements of income and expense for the calendar years 1954 and 1953 are shown in a separate schedule and are summarized as follows: Sales Cost of goods sold GROSS PROFIT Operating expenses OPERATING INCOME Other income NET INCOME $51 9 473.76 39 9 575 69 $120,898007 33.584.20 87 , 313 87 55028 $ 87,369.15 F WO $488,363.77 375,166079 $113,196098 29,800.2 4 83939 00 1 9 2 7 7 0 2 1 $ 84,673.25 Increase Decrease* $279109-99 19,408090 $ 7,701°09 32783.26 3 9 917 83 19221°93* $ 2969590 The factors contributing to the increase in net income can be summarized as follows: 'OF Increase in gross profit attributed to: Increase in sales volume Increase in gross profit percentage Less increase in operating expenses: Salaries Provision for depreciation Repairs, maintenance and alterations Light and power Supplies Burglar alarm service Taxes and licenses Bad checks written off Others Less decrease in insurance Less decrease in income from investments $ 56555 99018 2,720012 40050 71002 29.00 25001 261027 72001 $39883066 100040 INCREASE IN NET INCOME $ 69283.79 1.417-30 S 79701009 39783.26 $ 3.9917.83 19221°93 $ 2,695°90 -14- LIQUOR DISPENSARY FUND (Coot 7 d) Cash balances decreased $35,867000 for the year and may be accounted for as follows: CASH FUNDS DISPOSED Transferred to General Fund Capital additions Decrease in accounts payable Increase in. prepaid insurance Increase in inventory Decrease in sundry liability CASH FUNDS PROVIDED $119,693 93 4,360°09. 29248.62 119074 2 e16 2 .42 $1269469096 Net income $879369015 Provision for depreciation 29341083 Bad checks written off 261027 Increase in wages payable 419.85 Decrease in sundry prepaid expenses 137081 Decrease in accrued interest receivable 73005 909602.96 NET DECREASE IN CASH $ 359867000 -15_. Gross profit percentages for the past five years are as follows: !2L4 1953 1912 12L 1 0 Liquor 22096 22091 22.25 22016 20048 Wine 32042 32069 31°66 29.48 31067 Beer 19045 18004 18089 17065 18°59 Mix 30°28 26084 17060 1904 25064 Miscellaneous 42075 66063 62021 36.2 30.42 Total 23045 23.18 22050 22015 21°19 -15_. GENERAL Payment of fines accruing to Hennepin County and the State of Minnesota have not been made in full. We recommend the amounts due be paid during the ensuing year. During the year no official bond was provided for the Village Clerk. Also, no blanket position bond was provided for other Village employees handling monies. It was further noted that no official bond was in force covering Clerk of Court at December 319 1951++. We recom- mend that bonds be secured for all Village employees handling monies. Supplementary examination was made of the Clerk of Court records to May 319 19559 as requested by Municipal Judge and no exceptions were noted. It was upon our recommendation and approval by the Council that a separate bank account was established as of May 318 19559 for Court receipts and disbursements. It is recommended that a fixed asset ledger be established for the Village property and equipment. Such a record would assist materially in accounting control of such assets and the disposition thereof. In the construction of this report individual balance sheets of the respective funds 8 except for the Improvement Funds have been eliminated and appear only in the general balance sheet at the beginning of the report. -16® '0 FUND BALANCE SHEETS VILLAGE OF EDINA December 31,_1 954 ASSETS Cash: Current funds Appropriated funds Investments: U. S. Government securities at face value or cost - Accrued interest receivable Receivables: Taxes and special assessments: Current Delinquent Deferred Customers Due from other governmental agency Due from other funds Less allowance for delinquent taxes Inventories Amount to be provided for Village share 'of cost of Minneapolis -Saint Paul Sanitary District sewage disposal plant Segregated fund for reserve for debt retirement (securities) Construction in progress Fixed assets Prepaid expenses and deferred charges General Poor $ 919021.67 150-00 91 $ 91923.19 477.36 549984.41 ,3 •9 9!923.19 55-1461-77 6429908.20 $789 9 541._ 64 $49084.28 649084.28 59000.00 $ ;276.05 27.83 303eBB 276.05 �7. 83 $99112.11. F. u 'n d s Sewer Liquqr Park Improvement Waterworks Garbage Rental Dispenpary 6 39767.03* T-3-777-- 03 * 814.48 216.00 4.270.00 6 5,j300-48 814.48 9486'000 48,011.11 $48,730.08 2703774.63 2701774.63 748,000.00 5159216.29 39,382.73 2,4089692.73 14.76 770.89 29 ,O77o, 0 15 8 0.1 $2980 5 9147,423 26,108°33 192739770072 $591239800.91 5,458.48 6.'799.-38 '129257-86 52,871.25 $ 179568.90 00.00 1 2320660-90 2390 .90 4,710.05 17,128.75. 191869364.63 965.81 $192979367.25 $3,378042 $31-378 772 2,000..00 28.35 $1,164.57 805.16 100.10 $29069.783 2,0 79—.73 194.91 $7;671.51 $ 5,047.94 5907-7-797 20,000.00 142.17 $ 223.87 223.12 i:iin .. 1,716.97 $27,354.07 $ 379674.54 3 Zo- .9 e o® , . 767705-58 53,360.19 875.7-2 $168,616.03 —17— ,t FUND BALANCE SHEETS (ConiId) General Poor LIABILITIES RESERVES AND.SURPLUS Due= o o er s $ 10,54Q.89 Accounts payable 159707.09 $ 334.85 Salaries and wages Canceled assessments refundable Due to Hennepin,County Interest payable Water main and sewer connection deposits Construction contracts Minneapolis -Saint Paul Sanitary Sewer District Bonds payable Reserve for assessment adjustments Unapplied connection charges Performance deposits ' 59750.00 Surplus: Invested in fixed assets 5829609.70 Contributed 609298.50 Contributed by special assessments Revaluation Appropriated: For.imprest cash fund 150.00 For payment of bonds and interest For payments to City of Minneapolis for Village share of sewage disposal plant Unappropriated 1145485.46 83777°26 $7899541.64- $99112.11 �_-- - - - - -- - ___ * Indicates red figure. Note A o On March 289 1955 the council authorized the sale of $8209000 First Series_195� Improvement Bonds for the purpose of financing the cost of the Northwest Diagonal Sanitary Sewer No. 69. The bonds are due $459000 annually March 1 1958 to 1961 inclusive, $409000 annually March 19 19629 to 197 inclusive. Interest rates are at 2% on the first $200,000, 2.6% on $200 000 and 2.9% on $400,000 plus 1.1% additional for the first two years, at an average of 2.8327 %. B - .On May 23, 19-55, the-council authorized the sale of $200,000 Waterworks Revenue Bonds for the purpose of financing acq'im*. sition of a new 5009000' gallon' elevated water tank and wells and for other capital improvements. These bonds are due $10,000 annually March 1 19569 to 1967 inclusive, $30 000 on March 1, 1968, and 1969 and $20,000 on March 1, 1976. Interest rates are from 2.30% to 2.60% averaging approximately .2.51 %. •-----------------------u-----n------------------------------------------------------------- Newer iquor Park Improvement Waterworks Garbage Rental Dispensary $ 29762.32 4,700.00 339888°33 149122.78_ 6..743.35* $48,730.o8 50,699031 2,083°78 1,144.04 79295 :75 219454.65 10,948.77 190072082.01 ,26,108.33 397109000.00 1019928.52 1319788.79 $ 15010 $ 100.10 $ 49270.100 49i 0.48 $29038.10 69683.88 69"1.61 .1,732.50 199. 480.08- 1917000.00 169380.66 898,971.32 349833-30 5.20 194.91 1.95 12716.97 539360.19 239928.13, 9,675.56 438591.40 1069127.63 58433-30 189851.17 1039134.23 $52123,800.91 $19297,367.25 $79671-51 $279354.07 $168,616.03 A EL T L FUND LU VILLAGE OF EDINA - - -- Year ended December 31, 1951+ — =� - - -- APPROPRIATED==== =_�� Balance at January 1, 1954 Additions: Contribution from Independent School District No. 17 for one -half of the cost of traffic signal at Normandale Road and South View Lane 'Transfer from unappropriated surplus for fixed asset additions during the year Transfer to unappropriated surplus - Note A Balance at December 319 1954 UNAPPROPRIATED Balance at January 1, 1954 Invested in Fixed al A e $5309 71.63 64'719E21.63 e63 19398-50 For Imprest Contributed Cash $ 589900000' 150000 1939850 '-3-11+9688.07 111+9688007 900 0 00* _ 3 200-00* 66439058_20 6582,j609-704 609298..50 , 8150_00 Cash transactions during the year Elimination-, Loan from.Permanent Improvement Revolving Fund Disbursements for other funds remitted: Liquor Fund Waterworks Fund Less non - revenue items: Collections and payments on amounts accrued at December 319 19538 Construction Fund Park Fund Liquor Fund Sewer Rental Fund Waterworks Find Special Assessment Funds 1951 Second Series Improvement Fund Collections of performance deposits, dedicated'funds, and amounts due otherss Performance deposits Dedicated fund for purchase of radar equipment Firemen °s Relief Association Excess of disbursements over receipts ice is D $589661036 $6839031.51 $6799984-54 6 759000000 $ 759000000 509000000 509000000 65.44 65.44 25.065-. 5 79966007 $5_5V9919.10 $ 19151022 35-00 2 01+2 7.65 1921 0 99 $ 59750°00 119079 49109035 850oo 48000000 266-.58 648.40 99229012 29000000 1+ 1&+.7 2 e oom 00 22 2 $ .a '8 68 .28 6 * $5779_5_81;_.3 —19m GENERAL FUND STATEMENT OF SURPLUS (font'd) UNAPPROPRIATED (Cont'd) Additions& Decrease in accounts payable& Balance at December 319 1953 Balance at December 319 1954 Decrease in contracts payable Increase in accounts receivables Balance at December 319 1954 Balance at December 319 1953 Accrual for clerical, engineering, and other costs charged to other funds: Construction Fund Waterworks Fund Income on investments due from Construction Fund Deductions. .Loan to Park Fund canceled Costs paid or incurred by other funds for General Fund: Waterworks Fund Permanent Improvement Revolving Fund 1951 Second Series Improvement Fund Construction Fund Transferred from surplus invested in fixed assets - Note A * Indicates red figure. Receipts Disbursements 996o9.330 8,631.45 6 977.85 589734.30 477.36 152,90 325.36 $ 592.88 35.10 627.98 106.43 6Q9771.92 7356.35 $ 19500.00 59 500.00 250041 390.63 129085 X70.89 0.8 9, • Balance at December 31, 1954 81149485.46 Note A - Represents contribution from Minneapolis Savings and Loan Association on February 12, 1952, for the purchase of a First Aid Panel. Truck. -20- i W GENERAL FUND COMPARATIVE RECEIPTS VIDE- OF- FA IYA Years ended December 318 1954, and December 31, 1953 Increase .1954... 1953.... - Decrease* Tax settlements - March June, and November 1953$ March, June, and November 19520 Real and personal taxesS General Firemen's Relief Association Forfeited tax sale apportionment Interest and penalties Mortgage registry Gross earnings tax and bank excise Hydrant use talc Licenses and permitss Plumbing: Licenses Permits Building Sewer Cesspool Bicycle Beer $2752082.50 1,223009 7.14 1,13300 5,656.16 1,605001 86. 2902693°92 $ 19218000 39475.75 25, 518030 19047.50 733000 270-10 470000 $231,11032 19 og .65 45.09 19378.26 5,019.23 57 °97 ®o_ $2389714-T2 $ 954.00 29756.25 109768.10 12052.50 490°00 286035 485.00 Bowling alleys 160.00 160.00 Cigarette 357.00 332.00 Food 210.00 198.00 Liquor 200.00 200.00 Pinball 250.00 250.00 Taxi cab Theatre Sign Dog Miscellaneous Municipal courts . Fines, and forfeits Rentals Land and buildings Equipment Revenue from State of Minnesotas Insurance premiums tax Liquor tax apportionment Cigarette tax apportionment 80.00 75.00 361.94 191]0.00 51.00 359587-59 25910975 $ 300.00 �om 300.00 $ 39161.64 109133.76 9.256.8Q 229 552..20 80.00 7500 126.50 19174.50 m2- �-19,388.20 289122.61 $ 300.00 8.00 19188-00 $ 29712.69 109426.08 9.549.12 229687-89 $43,963.18 1288.44 2 5.22* 546 7 � 9�3 1, 00 50986.99 519979.40 264000 719 50 149750020 5000* 243000 16.25* 15000* -o® 25000 12°00 -o® mp_ -o- mom 23044 6 .5o* 51.00 16,19939 39012.86* A0 $ 448.95 292.32* 292. X35.69* -21- GEUA&L FUND COMPARATIVE RECEIPTS (font °d) Departmental fees and-service-char gees Election filing fees Engineering and clerical serviceso Construction Fund Waterworks Fund Garbage Fund Sewer Rental Fund Street repairs after construction Street opening fees Collections on accounts receivable. accrued at December 319 19520 Park Fund Waterworks Fund Sewer .Rental Fund Liquor Fund 1.951 Second Series Improvement Fund Construction rand Permanent.Improvement Revolving Fund Other Int erfund s Loan to Construction Fund repaid Loan from Permanent Improvement Revolving Fund Transfer from Liquor Fund Collected for Construction Fund Sale of investments for Liquor Fund .Reimbursement for Waterworks Fund Equipment rental charged to other fundso Waterworks Fund Park Fund Sewer Rental, Fund Construction Fund General Fund Other o Special assessment searches Sale of maps Interest on investments Contribution Performance deposits o Sundry TOTAL Increase 1954 1953 Decrease* $ 8.00 419802.89 1'863007 86 -,07 2, 20x.28 894o5.16 3500 7.65 24.42 -0- 19151.22 -0- 75.00 19293.29 $ -o- 75,000.00 1199693.93 509000.00 65.44 $2449759.37 920.25 500.00 -0- 2,876.91 9297.16 $ 374.50 -0- 39398.50 51750-00 q10.07 AX $6839031.51 $ 8.00 30,712.03 1,813.90 906.94 906097 24.61, 3951.5 $ 19 500.00 745.74 -0- 17.00 10923735 8965359 2.00 618.99 219774.67 $ 459000.00 -0- 1359000.00 29814.40 1019985.71 -o® 62849800.11 $ 19000.00 250.00 100.00 29827-75 562.15 9739.90 $ 250.00 25.00 351.58 -o- 904.36 $6579834.71 ll,o9o.86 12595 43.87* 43.90* 19879.67 118.00* $129890.71 $ 19465.00* 745.74* 7065 109237-35* 72502.37* 2.00* 20,4$1.38* $459000.00* 752000.00 159306.07* 29814.40* 519985 71* 6 5.44 0;040.7 7975 250.00 100°00* 49.16 562.a5* 6 442.74* $ ]24.50 25.00* 351.58* 3,398.50 58750000 j 29128-71 $25,196.8o -22- L GENERAL FUND COMPARATIVE DISBURSEMENTS VILLAGE OF EDINA Years ended December 319 19549 and December 319 1953 General governments Mayor and trusteess Salariess Mayor. Trustees Publishing ordinances and notices Supplies Other Municipal courts Salaries: Municipal judge Special judge Clerk of Court Assistant Village attorney Fines transmitted to state and county Supplies Board of prisoners Witness fees Dent Other Elections Salaries ® judges and clerks Supplies Other Treasurers Salary Premium on bond Assessors Salaries: Assessor Deputy assessors Supplies and other expenses Mileage Attorneys Salary Fees and expenses Other Increase 1954 1953 Decrease* $ 960.00 29160.00 296.75 348.94 67.06 39832 °75 19 533 ° 72 19201.44 19974.49 19227.00 379.00 222.05 19806.50 140.00 360.00 241.95 99 086.15 49175.48 177.70 185.07 49538.25 600.00 37.50 637-5.0 19900.00 49378.30 294.00 79137.80 $ 19533 °73 59711.85 mo® 79245.59 960.00 .29160.00 677.76 5.26 65.7'+ 39868.76 .11533-72 19099.20 19641.14 970.28 -om 161.98 19101.43 265.00 750.00 85.57 79608.32 19082.25 91.70 19259 °3 $ 600.00 -0- 600.00 $ 19700.00 39601.00 271.70 294.00 9866.70 $ 19227.00 19074.65 2.00 $ 2;303.65 $ _0® -0- 381.01* 343.68 1.32 36.01* ®0- 102.24 2 56 0 72 379.00 60.07. 705.07 125.00* 390.00*° 156.18 19477.83 39093 °23 86.68 39278.9-1 ®0° 37 °50 $ 200.00 964.50 106.60 -o- _ 19271.10 $ 306.73 4,637.20 4991+1-93 -23- GENERAL FUND COMPARATIVE DISBURSEMENTS (Cont'd) General government (cont'd.)o Executives Salaries: Village manager and engineer Assistant Village manager Subscriptions Supplies Mileage Other Clerk: Salary Clerical: Deputy Other Supplies Postage Maintenance and rental of equipment Publications Other Village hall: Janitor ser Supplies Towel servi Light and p Water Telephone Fuel Insurance Maintenance Rent Razing old Other vices ce over of building and grounds village hall Library: Salaries Janitor services Insurance Heat, light, and water Other Planning commissions Consultant fees Other Dues TOTAL GENERAL GOVERNMENT Increase 1954 1953 Decrease* 9,708.00 4,664.12 47.6 163.9 417.97 219.15 15,220.83 6 960.00 24;656.07 3,064.18 272.74 204.18 552.15 342889 �7 � 4,145.31 573.28 95.25 1.,150.01 79.29 1,901.46 612.21 953.79 433.05 375.50 '+95.00 21+7.70 1190617-75 484.59 19.50 600.71 46.22 91078 1,242.60 $ 1,001.95 21.50 6 17023-4-5 202-00 6 962125.43 9,108.00 2,254.07 Al 58 124.84 70.70 $ 111872.39 6 960.00 49991.75 24,111.41 2,304.29 556.52 124.43 -0- 33,13 •92 758.545 202.8 88.25 .472.85 58.17 19207.73 243.79 47.94 596.16 -0- 72.87 3971+9915 -o- mo- -o- -o- -o- -o- 1,409.17 V 19-- - .i7 209 4 00 $ 711882.40 600.00 2,410.05 14.4 117.6 293-143 39348.44 8 -o- 11.86* 544.66 759.89 283.78* 79.75 552.1 19753.55 39386.76 370.44 7.00 677.16 21..12 69.73 36 .42 905.85 163.11* 3375.50 x+95.00 79312.70 484.59 19.50 600.71 46.22 19242.80 407.22* 21.50 385.72* -o- $2 7243 - 03. -24- COMPARATGNEL IVE DISBURSEMENTS (Coot °d) ------------------------------------------------------- - - - - -- ------------------------------------------------------- - - - - -- Public safety° Police protections Salaries Supplies Police radio service Drunkometer tests Other Fire protections Salaries Supplies Insurance Power for siren Telephone Fire school and convention Maintenance of equipment Other Transmitted to Edina Firemen's Relief Association Inspection services.: Building inspector Plumbing inspector Supplies and other expense TOTAL PUBLIC SAFETY Highways° Engineering: .Salaries Outside services Supplies Mileage Equipment rental and maintenance Other Street lights and traffic signals Street commissioner - salary Labor Materials and supplies .Street signs Outside equipment rental and labor Sanding and snow removal: Labor Materials and supplies Outside equipment and labor Miscellaneous TOTAL HIGHWAYS Increase 1954 1953 Decrease* � 48,50555 908.97 700.00 19190.00 150.16 519454. 8 99115.97 402.65 164.50 12.00 334.57 415.05 290.90 40.15 10977579 $ 49468.21 4944 .76 7196 9x3 8 529261.92 657.950 2984%7x45 274.15 130.62 169394.13 59141.83 269800.80 8'660.45 19634.87 59946.14 276.00 -0- 1229530.85 429919.34 669.53 700.00 680.00 79.78 9048.6 $ 49861.28 244.69 164050 10.00 350.70 78.00 295.10 141.83 139092°75 8 49210.57 49265.00 69916.7 329325.79 ®0- 1'680.68 415.30 147.13 139884°49 23974439 57 89760.2 19879 :34 2196o5.73 79269.85 625.08 104.00 _275001 1189164.73 59 586.21 239.44 m0® 510.00 69406.23 49254.69 157.96 m® 2.00 16.13* 33705 4.20* 101.68* 6 9� 46___65* -S 29316.96* 6 257.64 180.76 2 . 9732.6 8199936.13, 657.50 19098.93 166.77 141.15* 16.51* 29509.64 3.44 39056.23. ;232.00 19218.89* 19,970.86* 19323.71* +9 *. 104 e 00* 9366.12 - �5_ GENERAL FUND COMPARATIVE DISBURSEMENTS (Cont'd) ------------------------------- - --- -- -- - Increase 1954 1953 Decrease* Sanitation and waste removals Weed eradications Labor Supplies Other Rubbish disposal Maintenance of storm Labor Supplies Outside equipment TOTAL SANITATION AND Equipment m Repairs Village 1 Gas and o Insurance Tires and Fuel Supplies Power and Telephone Sundry sewers. and labor WASTE REMOVAL aintenance-0 and replacements abor it tubes light TOTAL EQUIPMENT MAINTENANCE Unallocated expensess Workmen's compensation insurance Audit . Settlement of law suits Other insurance Other TOTAL UNALLOCATED EXPENSES Tree trimmings Labor Other TOTAL TREE TRIMMING Capital outlays Land improvements Buildings Furniture and fixtures Highway department Police department Fire department Executive equipment Engineering department Traffic signals Library Miscellaneous equipment TOTAL CAPITAL OUTLAY 764 °47 38 .00 42.62 Q• 19459.46 619.52 -0® 39271.07 6,942.60 '9,698.71 59869.78 ,348.36 19165.52 2,011.93 334 °15 283.50 3292 2.33 3,621.81 5,687.50 488093 wo_ 3ZIOQ 6. 99835.24 595 2086 59960.02 $ 6,228.06 859573 °7 12y217.2 49681.22 2,456.14 677.63 1,267.82 1,814.90 5,072.10 19544.36 1229 .25 948.21 249 °77 6.90 26.44 1,384.17 530.76 556.60 39702.85 $ 8,163.36 82629.76 79466.33 29334.00 1,187043 1,211.04 12077.81 298.53 .219.20 309697 °50 1,499 °52 3,100.00 ,70-40 757 °39 16.01 9443-3 $ 39164081 39412.3t $1549370.65 24,16 .67 9351.00 29654.44 ®0® 19478.80 mo- 89.75 186,204.97 $ 182.74* 134.23 35 °72 26.44* 75 °29 88.76 556.60* 31.7 19220-764. 1,068.95' 2yoi1+.36* 38.52 93 .12* 35.62 5.70*, 71°92 1,564963 $ 29122.29 2,587.50 418.53 757-39* 20.97 9391-90 $ 29407 °35 29547.64 $ 6,138.40 68,796.90* 99053 °57 19,676.78* 198.30* 677.63 1,267.82 336.10 5,072.10 1, 5+.36 1.221028 63;360.72* -26- GENERAL FUND COMPARATIVE DISBURSEMENTS (Cont1d) -------------------------------------------------------------------------------------------- Increase 1954 1953 Decrease* -------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------------- Reimbursable expenditureso Services for contractors $ 272.03 Services for liquor store -o- Sundry 4 -_U TOTAL REIMBURSABLE EXPENDITURES 6 317.33 Prior year °s expenses and encumbrancesz .Due to other funds at December 31, 19520 .Working Capital Fund $ -o- Park Fund 41109.35 Waterworks Fund 42000.00 Sewer Rental Find 85.00 Special Assessment Funds ?66,58 Permanent Improvement Revolving Fund ,o 1951 Second Series Improvement Fund 648.40 Construction Fund 119.79 Encumbrances at year -end 680343.60 TOTAL PRIOR YEAR'S EXPENSES AND ENCUMBRANCES $ Interfundo Loan to Construction Fund Loan from Permanent Improvement Revolving Fund repaid Hydrant use tax transferred to Waterworks Fund Disbursement for Waterworks Fund Transfer of amount collected for Construction Fund Purchase of investments for Liquor Fund Special assessments on park property paid by General Fund TOTAL INTERFUND Salary of health officer Civilian defense Dog catcher TOTAL 55.76 35.33 152-39 $ 219412.18 ®o- �1+o.64 104.37 400.08 4,864.72 ®o_ 49068.4 77,572.72 369347.20 mom 75,000.00 69050.00 65944 eo® 509000.00 61349649 � 490.$0 50�38 $6791;9&. 54 ANALAYPIS C CASH B C Balance at January 1, 195 Receipts for the year Disbursements for the year $ 459000.00 ®em -0- 29814.4o 1019985.71 4.18 $1529134.29 49o.8o I 840. 6 $6779418.46 Balance at December 31, 1954 216.27 35.333* 164.94 $219412.18* 4,10935 3,45936 19.37* 133 .50* ; 1+986 +.72* 648°40 4,836.58* 64e2,� ?4.?6 $41,225..52 $45,000.00* 759000.00 69050.00 65.44 2,814.40* 519985;71* 179 48W, 9 257.28 329062 $ 29566.08 $ 1971t-70 7719006.21 679$,984.54 $ 912021.6-A -27- GENERAL FUND FIXED ASSETS VILLAGE OF EDINA Year ended December 31, 1954 ---- - - - - -- - Balance Balance January December 19 195'+ Additions Deductions Transfers 31, 1954 Land 6 759228.16 $ 59500.00 $ 80,728..16 Land improvements 2,911.66 62228.06 991 9.72 Buildings 399444.36 85,638.91 $ 99888.72 $2139395.17 328959.72 Furniture and fixtures 119588.84 139681.98 208.00 252062.82 Equipments Highway 1309630.60. 59056.22 49479.38 1317207.44 Police 7,402.60 ;.2,918.085 10,321.45 Fire 309899.32 971.43 31,870.75 Election 1,762.95 272.88 2,035.83 Engineering 4,295..57 1,834.85 6,130.42 Traffic signals 6,637.05 59217.60 861.90 12,716.55 Miscellaneous 312, 6 .56 128,736.31 $149576. $2149257-07 $640'981.84 Construction in progresss New Village hall 2139395.17. 2139395.17* Traffic signals 861.90 861.90* -o- Library m ®® 1,0926.36 TOTAL $5269821.63 $130,662.67 $149576.10 $ -o- $6429908.20 9 -28- POOR FUND VILLAGE OF EDINA Year ended December 31, 1954 Balance at January 1, 1954 Additions - revenue receipts and accruals: Tax settlements collected Relief grants from the State of Minnesota Reimbursement from an.outside county Income on investments Deductions - disbursements and accruals: Suburban Hennepin County Relief Board: Relief orders Administration Rural Hennepin County Nursing Committee Village labor $ 6,717.28 $7,972.62 124.72 317-11 28.86 8 44? $15,160.59 $2, 50.72 $2,763.50 3,60 .28 6e9103.33 Balance at December 31, 1954 $ 82777.26 • -W%._�. " • 1 • -_t Revenue receipts and accruals: Tax settlements collected Relief grants - State of Minnesota Reimbursement from recipient Reimbursement from an outside county .Income on investments Disbursements and accruals: Suburban Hennepin County Relief Boards Relief orders Administration Rural Hennepin County Nursing Committee Village labor Increase 1954 1953 Decrease* $7,972062 $8,205.71 $ 233.09* . 124.72 168.10 1+3.38* -o- 80.00 80.00* 317.11 -om 317.11 28.86 689441-31 i89453-81 10.50* 6215o:72 $2,619.65 $ 268.93* 12.78 467..18 54.40* 3,605.28 32605.28 —o- 14.55 -o- 6 662. 8 $22059.98 81,761.70 $ 298.28 —29- !' POOR FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31, 1954 I'll Balance at January 1, 1954 Receipts: Tax settlement received: March, 1954 June, 1954 November, 1954 Relief grants - State of Minnesota Reimbursement from an.outside county Sales of investments Disbursements: Payments to Suburban Hennepin County Relief Board: Relief orders Administration Rural Hennepin County Nursing Committee Village labor Purchases of investments Accounts payable at January 19 1954 Less accounts payable at December 31, 195?+ 6 7,215.37 $ 642.83 4,246.68 1.081.11 7,972.62 136.20 317.11 5a085..�� .2 20,726. 3 2,352.772 2,7463.50 3,605.28 10,05.5 6.47 517.40 6167977.20 334.8 5 16g 642._U Balance at December 31, 1954 $ 41084.28 -30- !' PARK FUND STATEMENT OF SURPLUS - UNAPPROPRIATED VILLAGE OF EDINA . Year ended December 31, 1954 Balance at January 1, 1954 Additions: Tax settlements received: March, 19 54 June, 1954 November, 1954 _Swimming registrations Contribution for Little League baseball Cancellation of liability to General Fund Deductions: Operating expenses: Swimming Baseball Skating rinks Other activities General Capital outlay: Land Land improvements Buildings and equipment Construction in progress Less amounts contributed or charged to other funds: General Fund Contributions on Wooddale Park Program Note A Represents Special paid by Payments charged $ 11631.52* 1,871.58 13,014.92 90465.00 $242351.50 1,164.00 25.00 1.500.00 27.043.50 $25;408.98 $ 4,929.21 . 1,145.16 61540-94 220.53 1Q4 027.9 $22,863.43 $ 8,70.00 97 58.96(A). 1,328.28 1 'A1.26 $19,888.50 $79803.91(A) 2g22 .6 10,8 599.60 9,288.90 32,1L2.11 , , Balance at December 31, 1954 $ 62743.•35* the following items: assessments on Park property _ General Fund $ 3'533-91 on contract for deeds to General Fund TOTAL $ 72803.91 -31- PARK FUND ANALYSIS OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 31,'1954 Balance at January 1,'1954 Additions: Tax settlements: March, 1954 June, 1954 November, 1954 Swimming registrations Shady Oaks parking permits Refund on utility bill Collections from General Fund Dedicated Funds: Wooddale..S2hool Normandale Community Service Council Little League baseball diamond Wooddale Parent- Teachers Association Wooddale Park recreation program First Edina National Bank - Library landscaping Rent from building - Library landscaping Deductions: Swimming Baseball Skating rinks Other activities General expense Capital outlay Construction in progress 52nd and Arden Payments of liabilities incurred in prior years Payment to Hopkins Recreation Commissioner Payment to General Fund Payment of special assessment on park property Dedicated Funds: Wooddale School Normandale Community Service Council Wooddale Parent - Teachers Association * Indicates red figure. $ 19871.58 13,014.92 , 465.00 $ 37.98 170.00 25.00 350.00 2,795.69 6;2473 1.50 9 8.00 294.00 16.31 49114.20 $ 29622.64 500.00 312.50 4 191.17 31v215- :L8 $36,537.82 6_4 9418.16 . 19145.16 6'220.53 10'027.59 $10,945.24 $229368.69 131.26 119076.50 .$ 51967.83 294.00 3500 4.85 6,301.68 $ 37.98 170.00 ,3 5,D . 00 557.98 '+Q,3 4.85 Balance at December 31, 1954 S.'3 i M7 - 03* -32- PARK FUND COMPARATIVE DISMMSEMENTS VILLAGE OF EDINA Years ended December 31, 1954, and December 31, 1953 Swimming: Instructors Bath house attendants Bus rental Sundry Baseball: Coaches Umpires Bats balls, Bus drivers Maintenance Sundry Skating rinks: etc. of ball diamond Labor Maintenance of rinks Salary of attendants Power and light Lumber Sundry Other activities: Park at 65th and Mildred Wooddale School Archery General expenses: Labor Water Equipment rental Flower planting Recreation director Secretary Share of life guard at Shady Oaks Lake Recreation and park Maintenance Sundry Mosquito control salary survey TOTAL OPERATING EXPENSES (Carried Forward) Increase 1954 1953 Decrease* $ 2,325.06 30.00 2,000.00 61.10 ,418.16 659.09 131.15 172.20 166.72 16.00 6 19145016 5,388.27 M.00 36 .78 121.59 40.69 82.92 6,557.25 $ 126.75 5$435 220.53 61779.78 50.00 2..00 52.90 307.27 300.00 504.65 679.02 840.37 30.00 .6 0 02 . $22-7368.69 2,110.00 113.85 1,131.80 6 3,6 .89 1,075.50 25.00 13 8.12 1+9.70 55:49, 9 19659.14 2,151.11 1,521.58 2,369.55 78.22 295.21 180.18 6 6,595.85 $ 56.00 20.3 4. 223.89 3,242.o8 --50.0.0 250.00 154.15 900.00 300.00 500.00 650.00 151..04 182.49 215.06 8j. 85* 8.20 276.14* 8 723.27 $ 416.41* 106.15 34.08 17.02 199. 9* a 513.9 * 39237.16 962.58* 21001+.77* 3 2 .52* 57.26* 38.60* 70.75 35.00 109.1 $ 3,537.70 -o- 248.00* 101.25* 592.73* -o- 4.65 29.02 689 "33 147.51 -o- 101. 60 6 9.76 9 1.647.81 6 39815.16 -33- PARK FUND COMPARATIVE DISBURSEMENTS (Cont'd) Increase 1554 1953 Decrease* ------------------------------------------------------------------------ - - - - -- - TOTAL OPERATING EXPENSES (Brought Forward) 6229368.69 $18,553.53 $ 39815.16 Capital outlay: Park improvements Equipment Construction in progress - 52nd and Arden Payments of liabilities incurred in prior years. Annual installment on loans from General Fund Accounts payable Dedicated Raids - Note A: Hopkins Recreation Commission: Collection for Shady Oaks parking permits Dwight.Williams Parks Amount expended for beautification Park at 65th and Mildred: Amount expended for summer recreation instructor Wooddale Parent - Teachers Association: Amount expended for recreation program Wooddale School Payment of special assessements on park property Payment to General Fund TOTAL 6 51739.05 . 5,206.19 131.26 $11,076.50 -o- 5.967.81 5_9967.83 978.67 3 49760.38 289.03 49917.16 _o_ 1,267.70 $ 19508.02 $ 1960 .02 $ 294.00 . $ 322.00 ME 170°00 350.00 X7.98 � 851.98 4.85 .0 $40,304.85 156.80 120.00 350.00 948.80 $229487.40 . 131226 9,808.80 15 °,8500.00* '+'2359.-81 $ 28.00* 156.80* 50.00 -oo 37.98 $ 96.82* � 4.85 $17,817045 Note A - Funds for these expenditures supplied by contributions from outside the Village... -34- PARK FUND FIXED ASSETS VILLAGE OF EDINA Year ended December 31, 1954 ------------------- - - - - -- - Balance Balance January 19 December 31, 1954 Additions Deductions 1954 Land $15,820.70 $ 89970.00 $249790.70 Skating rinks 19871.47 19871.47 Land improvements 69110.12 9,458.96(A) $1,488.41(B)14,o80.67 Buildings -o- 341.61 341.61 Park equipment 726.58 646.45 12373.03 Furniture and fixtures -0-1 263.22 263.22 Trucks 59082.15 5,082.15 Miscellaneous -0- 299611.02 77.00 $197757.2 77.00 19— F8 +1 8+79879.85 F391+88.41'' Construction in progress: 52nd and Arden -o- 131.26 -o- 131.26. $299611.02 ---- - - - - -- $19,888.50 ---- - - - - -- $19488.41 $489011.11 --- - - - - -- ---- - - - - -- Note A Represents cost of labor and material on lot at southwest corner of 50th and Wooddale,and special a 'ssessments against Park Fund property paid by General Fund as follows: 50th and Wooddale $59925.05 Special assessments on park property -39533-91 $99458.96 B - Represents special assessment on park property for prior .years. Property rededicated to State of Minnesota in 1953• -35- i Total ------ - - - - -- ASSETS------------------------ i---------_--__- _- _- _____- _____= __- ____________ Cash on deposit— $ 2702774.63 Investments - U. S. Government securities - face value 748,000.00 Receivables: Special assessments: Current - certified in 1954 - collectible in 1955 $ 479,830035 Delinquent 391382.73 Deferred 2.163.179.86 Less allowance for delinquent taxes Taxes receivable - deferred Taxes and assessments receivable - Village share of projects: Current Deferred Less allowance for uncollectible taxes Others TOTAL RECEIVABLES Due from other funds Due from Construction Fund for advances Construction in progress: Current Deferred Unallocated construction costs Amount to be provided for future Minneapolis -Saint Paul Sanitary payments on Village share of District sewage disposal plant LIABILITIES Accounts payable Accrued and future interest Canceled assessments refundable Due'to County of Hennepin' Due to other funds Construction contracts payable Water main and sewer connections deposits Advances from Improvement Funds Loan from General Fund Payable to City of Minneapolis for Villageshare of sewage disposal plant Bonds payable Unapplied connection charges Reserve for assessment adjustments Reserve for debt service Surplus: Appropriated Unappropriated * Indicates red figure. 158.930.17 -o- 35,385°94 2 12.8 s-2801898 .1 -o- 0' 14-76 F2,, o ,3 770089 -o- . 183,026.55 110077082.01 83,662.16 26,108.33, .$591237800.91 $ 21'48 8 �6 191 .0 71295.75 699031 17007,082.01 10,948.77 -0- 50,000.00 26,108.33 31710,000000 131,788.79 101,928.52 -o- 9,675 43.591. $5,1239800.91 IMPROVEMENT CONSOLIDATED VILLAGE OF December Permanent Special Improvement Debt Eliminations Construction Assessment Revolving Service $ 111+1734.36 $ 182883.86 $ 57,750.94 $ 44,250.00 115,000.00 37,000.00 25,000.00 $ 27,391.06 $ 34,168.14 31530.62 41713.58 30.717.16, 54,170.21, 6 -0- S -0- 6 612 38-84 6 93, 051-93 6 -0- 51229-13, 9.105-71 6 -0- 6 6 561409-71 1783,946.22' -o- $131,070.00 1131,070-00 6131, 070-00 6 -0- 6 -0- 6 -0- 1 .00 7.345.00 7.3 5.00 $123,725-00 8 -0- -0- 6 -0- $123-1725.00, 6123,725.00 6 -0- 1W 56jM9.71 6 83s946 6123,725 152,152.01 11,730-14 570.41 361,671.97 183,026.55 12007,082.Or1 26,108-33 $637,548.98 ----------- $111+319573.06 $2232040.02 .$167,267.57 $167075-00 ---------- $ 1+9725.00 586.00 $ 1137.7 � $ 9�52-75 .$ 71975-00' 1;144.0 152,152.01 1,284.31 89.90 21+5.59 183-80 181782,01+ 19007,082.01- 10,948-77 .3619671-97 361,671.97 501000.00 261108-33 49,000.00 160,000-00 84,392.53 30,530-10 22,595.70 1199000.00 1192000.00 elf 6-56 209,,71675.22 53753.28 $6379548.9a' .$11431,573.06 $223,04o.02 $167,267.57 $1672975.00 FUNDS BALANCE SHEET EDINA 31, 1954 - - - - -- - - - - -- _ �------------------------------------------------------------------------- 1952 '1950 Improvements 1951 Improvements rovement First Series econd eSTT�es First Series Second Serf-es �Im First Series $ 4,504.12 $ 22527.31 $ 2,119.49 $ 69759.11 $ 39780.80 21,000.00 421000.00 18-2000.00 1001000.00 757000.Oq $,17,874.48 $ 222154.45 $142048.05 $ 89,995.76 $ 69,288.09 14,445.67 11022.79 790.27 6,846.51 21584.27 63.901.57 77.624.06 60.476.27 4 . 8 201.657-13 6 96, 21.72 100, 71.30 7 ,31 . 9 30, 97.2 273, 29. 9 17.645 .14 6 O1 .22 16. 146.2 6 726.80 V7595,16-59 5-94) . ! • 04�Pyj))1.00 42t)(0 ! • $ 647.05 $ 532.46 $ 7,688.164 '.0 -o- 6 532.;6 -o- 6- 45-9680.83 7.76 -0 32• -a 3 1- - 2 79,22 •39 91+1866-08 $71,330. 7, 1.00 $3127483.572 3. 32,802.05 79409.21 14,368.13 2,.530.41 1,336.36 17658.90 10,076.71 382199.81 $1407064.97 $148,138.96 $93,108.95 $ 632.00 $ 576.00 681.00 586.90 253.60 214.85 2,757.24 5,346.14 51+9.76 96,000.00 1082000.00 879000.00 32,802.05 79409.21 71286.78 142623.10 539.92* 11,930.91 5,190.99 011 $1401064.97 $148,138.96 $932108.95 $6282754.95 $429,4640'13 $ 112.56 $ 64.33 12119.16 32850..00 878.80 320.60 772696.67 71589.39 5451000.00 4202000.00 7,002.00 31054.24* 21360.19* $628,75+•95 $4292464.13 --------------------------------------------------------------------------------------- .1953 Sanitary Improvement Sewer Southdale 1951+ Improvements First Series No. 53 Improvement First Series Second Series ---------------- $ 41828.71 42702.90 211 292.25 $ 29787018 $ 853.60 $ 449000.00 669000.00 52000.00 .2002000.00 $ 66,670-08 $ 569739.87 33;7508.86 $ 242572.11 232419.40 1,240.11 47208091 29 53 1.036.14 �.399.23 523.761-80 1921.997-48 126 13-8 10 $362,309.4 5584,7 . 10. 0 049 8 .26 5.4 0 6 -34 $1512085-94 $126 )+ 112 45 18.61+2.'55 18. 3 9573 ft 83 044-266.67 !;546 bbl. 1) 42164 11.0ts 5145-612: *l4lqyjv!71 $ 269518.29 207,520-18 9 -0- F2-34703 8 • rF7- 5 -0- -0- -0- 6 -0- V23 1+1018.47 t -0- -0- -o- 3,2 . 7 7801699-.72- PIZ ,011.0 145-2612-58 $1212970-71 18 .00 510-59' 711.25 13,309028 2,2R.58 119717,37 .2.36,)+73.04 83266.2.16 $4061404-86 $8539810-10 $347682-86 $193,055.86 $ 32528-33 $ 39425.41 21 a 50.00 55-87 $ 80-5-00 426-85 $ 37627-10 244-80 318.65 11+9.90 28)21+1.04 10,3591 3657000.00 8507000.00 183-00 97208..6)+ W69404-86 .$8532810-10 ----------- 0 - 3152000-00 175,000 000 54 Q- 000-00 12.65 41572.20 19.1053070 $318,682-86 $1932055.86 $5602008.60 -36,- -j IMPROVEMENT FUNDS STATEMENT ' OF SURPLUS VILLAGE OF EDINA Year ended December 31,1954 Permanent Improvement 1950 Improvements_ 1951 Improvements Revolving First Series Second Series' irs . er es econd er es $52793-40. $ -o- $72965.97 $22357.65 -0- $4,131.48 $3,893.1+9 $42754..48 $39548.66 $242945,01 9.42 8.87 4.68 1.99 10.48 19178.06 67.31 337.85 28.22 215.66 $5,318-96' 3,9 9. 7 $59097.0i $25,171017 `? . $3 , 250.00 $1,473.16 $1,365.33 $12400.34 $122693.75 632.00 576.00 681.00 12119.16 63.01 60.49 35.68 12335.50 32.68 683.50 18.12 237.24. 73.54 42878.98 12985.58 1+93-33 11525.44* 11591.17* 62405072 00 8 $3.969.67 51.132.57 . .1 $52753'.28 $ -0- $L1,930.;91 $5,190.-99 $ -0- = = == 1952===== _ = = = =- 1953---- - - - - -- Sanitary 1954, Improvements---, - Improvement Improvement Sewer Southdale First Second first Series First Series :No. 53 ---------------------- ----------- .; Improvement Series ...Series -0- -0- $ 41868077 - - i$ 17133.91+* $ -0- -0- ;121891+.57 $189137042 $279641099 81948071 $6,339071 $42931.51 26039 42080 20063 4031 16085 327-00 89-00 606.6'17 778010 72022 980'61 106067 44-36 18512 $12,993-18- 1034Z2.1 $281756;6 $279769.2-9 129242.61 -.,$217326.99 2,1 Z1.12 5.99461-35 72700000 31850000 $ 71056067 37528-.33 $27,265000 .$612500-00- 3,425041. $21450000 805000 17-10 707-38 28-88 1,027-77 2601+6 31387.84 68-16 906010 24038 813-51 604090 386053 14,758-72 41398.80 10,495.26 511+73036 411+81+.8.3 312.99.3-1-9 928.7 $12,678 . - 526,195 -05 69.461 - 31 $5,894 .71 -0- $ -0- -0 . -0- -0- -o- -37- Transfers: "-Allowance for delinquent taxes Appropriated surplus for payments to ...City`-of Minneapolis for Village share of sewage disposal plant Balance at December 31,.1954 * Indicates red figure. 459297.14 2 UTT297 $ 43,591-.40 468.38* �� i 17�- , MOO $20,716.22 Special Total Assessment Balance at January 1, 1954 $ 3798050'01 $17,953.16 Additions: Interest spread on deferred assessments for collection in 1955 ..$122,762.19 $ 27595.16 Interest collected by Village on prepayment on special assessments 153.12 6.70 Premium on sale of bonds 32.7. °00 Accrued interest on sale of bonds 11473.77 Income on investments 3,251.87 917.79 Assessments over collected 222.83 222.83 Capitalized interest 248 2.922 W1572083-70' -3,742. Deductions: Transfer to Debt Service Funds for interest $ 31250.00 Interest on bonds: Paid during year 65,204.25 'Accrued at December 312 1954 177066.90 Payable during 1955 19137.75 $ 12137.75 Advertising 17.10 Legal services 707-38 Bank service charges 425.57 54.66 Adjustments and cancellations 139935.83 Transfers: "-Allowance for delinquent taxes Appropriated surplus for payments to ...City`-of Minneapolis for Village share of sewage disposal plant Balance at December 31,.1954 * Indicates red figure. 459297.14 2 UTT297 $ 43,591-.40 468.38* �� i 17�- , MOO $20,716.22 Balance at January 1, 1954 Additions: Remittance from County Treasurer: On special assessments On taxes receivable Collections by Village on special assessments: Principal Interest Proceeds from sale of bonds: Principal Premium Accrued interest Sale of investments Collections from other funds accrued at December 31, 1953 Reimbursement from General Fund for loan Decrease in accounts receivable Over collection on special assessments Collections for other funds Transfer from Permanent Improvement Revolving Fund for bonds, interest and bank service charges Advances from Improvement Funds Increase in water main and sewer connection deposits Deductions: Construction costs: Increase in construction in progress: Balance at December 31 1954: 6urrent con- struction $ 183,026.55 Deferred con - struction 13007,082.01 $11190,108.56 Balance at January 1, 1954: Current con - struction $, 383,828.72 Deferred con- Combined $ 54+,350.69 $ 368,629.28 34,335.25 397953.71 167.79 780,000.00 . 00 1, �27 73.77 396,038.53 11653.43 75,000.00 71.15 225.50 1,537.24 44,313.01 927903.69 078-91 ;21670$708.26 struction 345,439.16 729,_267.884 4607840.68 Less costs paid by other funds: General Fund $ 592.88 1952 First Series Improvement Fund 125.36 718.24 (Total carried forward) 0,:122. + $3l215, 0 57-9 IMPROVEMENT FUNDS ANALYSIS OF CHANGES IN MR BALANCES VILLAGE OF EDINA Year ended December 31, 1954 Permanent 1950_IEpr_oyements 1951 Special Improvement Debt First Second First Construction Assessment Revolving Service Series Series Series $12214560.73 $1914-M .01+ $ 40,496.60 $459340.06 $27,684.30 $307170055 "617,580077 $297046.95 $. 49,506013 336.94 1,640029 6.70 9042 359917.79 369178.06 $ 119.79 266.58 311-11 75,000.00 71.15 - 222.83 2.67 $31,000000 78-57 22523 44,313.01 $20,945.44 624,301073 $16,784091 .902.65 . 6020 9 1,242058 1,888 23 8087 4.68 17,067.31 20,337.85 2,796017 16.66 549°76 9239903 69 31078-91 5927,102-39 9797 9 E-1-62-,71F-83 9761 . 1 , 166. 5469 -3-2.IT9- 20, 74T99 1P 1 9012 9851280.83 9-20-37215-43- M95 .8 71851-15 F7-6-1703.04 $3 , 30.7 _-- ----=- - - - Improvements - -- 1952-- - - - Improvement - -- -1953 - -- Improvement -- Sanitary Sewer Southdale 1954 Improvements First Second First First Second Series Series Series _No °_53 Improvement Series ------------ Series --- - - -- ------------- 1130,743 °36 72115 °38 8 42,271 °24 $ 24,642062 $ 36,366 °06 $ -0- $ -0- 889063 °86 $67,-782 °61 201646 °59 1 51, 51006 7,348 °40 25, 81071 6,916 °22 8,101 °27 8,400 °88 41642 °84 $ 21062 °90 4 $ 1,849 °89 16 75°50 10.48 26 °39 42 °80 20 °63 °31 °85. 65,000 °00 175;000 °00 5409000 °00 327-00 89000 606 °67 778 °10 121215 °66 1,072 °22 44,098 °61 247106067 1742044 °.36 648 °40 228 °98 51 °00 711 °25 107290 ° 2 $84, 9 87 73,188.88 10 ,.02 °9i 2 1,200° 7 $1782511 , 3° o $238961+§—.9-9 91, 675 ° 11,51460 $130,445 3 1 -38- (Total brought foward) Deductions (Copt +d): Construction costs charged to other funds: General Fund Less portion reim- bursed during year Permanent Improvement Revolving Fund Improvement Funds Combined $ 460,1'22.44 $32215,058.95 $1,240.95 1,211. 10 $ 29.85 Increase in contracts payable: Balance at December 31, 1954 Balance at January 12 1954 Add balances of contracts payable canceled 11,600.29 1,004,483.22 l 016 11 46 U,476:235.8 '$120072082.01 31+6.196.16 476601885.75 - 757.00 661,642.85 $ 814,592.95 Payments on accruals at December 31, 1954 32534.48 Decrease in accounts payable 3,585.42 Investments purchased 83+,708.1+5 Payments made for other funds 100.00 Payments to County Auditor for bookkeeping charges 644.40 Bonds redeemed 1531500.00 Interest on bonds 85,156.75 Bank service charges 425.57 Loan to General Fund 759000.00 Refunds on special assessments 11302.43 Transfer to Debt Service `Funds for bonds, interest and bank service charges 44,313.01 Collections for other funds transmitted 276.23 Advances to Construction Fund 9239903.69 Charges direct to reserve-for assessment adjustments 13.00 Advertising 17.10 Legal services 707.8 Paid-"t6 City of Minneapolis - sewage disposal plant 2 0 6 2.9 .2 Balance at'December 31, 1954 $ 2702774.63 IMPROVEMENT FUNDS ANALYSIS OF =NCES 117 CASIT BALANCES (Copt 'd) --------------- ------ Permanent 1250 Improvements 1951. Special Improvement Debt First BecoH—d --Wrst Construction Assessment Revolving Service Series Series series ---------------- = ------- ---------------- 6�.0497559012 $85,280083 $2039215.43 SIZ2956.85 $.67,851015 X76,703004 $382330076 $ 811+2592095 19652.82 39 585.42 1149893-57 100.00 934.8 $ 114,734-36 $ 11263000 $ 78-57 0 311-11 319000000 25,000000 319000.00 $389000.00 $52,000000 400-85 64015 71085 44070 29,500.00 22035-00 54066 2,503.46 6-27 $18,883-86 1+1,000.00 239000-00 1+2107-50 21239-50 63-01 35.68 759000-00 11008-76 449313001 225.23 $ 577750091+ $4+1250.00 202000.00 21048-00 32.68 50.,35 $182000-00 35-15 10,000000 29158.00 18-12 61000-00 3 .347.03 j7 9 73 $36.211=, Z $ 41504012 $ 2,527031 $ 22119049 --------- ---------- G $ 228098 1121000000 1952 1953 $ 792000.00 $ 911000001 $199,814088 117060 Improvements Improvement Improvement Sanitary 1954 Improvements 112550000 econd First. First Sewer Southdale First Second Series Series 'Series No. 53 Improvement Series Series $2-38961+8.98 $919675.25 $1159460°12 $130,445°53 $2779566063 $1782511.66 $5402853.60 G $ 228098 1121000000 $761000000 $ 49,000000 $ 792000.00 $ 911000001 $199,814088 117060 59025 19.95 190.90 30,000°00 1424187 112550000 109585-00 272265000 82750000 73 :5 28.88 26.46 68.16 24.38, 243.32 51.00 751000°00 512000°00 192218057 2579500000 $1752000-00 340,185 12 13000 - 17.10 707-38- $231.889 1 0, 10 1 9125, 7 3 $275,274. 617 ,7 -0400000 $ 69759 ?11 S.32780-80 $ 42828071 $ 49702090 $ 22292025 $ 2,787018.E 853.60 - -39- 1 4 The following schedules have been bound separately for convenience in reference IMPROVEMENT FUNDS Special Assessments Receivable:, Current and Delinquent Page 40 Deferred. a 0 0 0 41 Construction in Current 1 43 Deferred: 45 Summary of Reserve for Assessment Adjustments and Outstanding Assessments and Bonds., . 48 Contracts Payable . ... . . . . . . . . . o e 53 Bonds Payable 0 0 54 Bonds Payable and Bond Interest of Special Assessment Funds . . . . . . . . o o 55 Amount Payable to City of Minneapolis - Sewage Disposal Plant. . 0 a 0 0 a 0 0 0 a a a 0 0. 56 U WATERWORKS FUND STATEMENT OF SURPLUS VILLAGE OF EDINA' Year ended December 31, 1954 Contributed Contributed -- - ------ - -- - by by Total Unappropriated Appropriated Assessments General Fund Revaluation Balance at January,l, 1954 $ 68-5,4 +._14 $ 74- ,563.19 $21,887.50 $537,9137.47 $169380.66, $35,515.28 Additions: Net income for the year 329923.09 32,923.09 Water mains contributed by special assessments 3617833.85 3619833.85 Appropriation of funds for reserve for debt retirement - - -.o_ 2 * ,040.63 2 040.6 , 3 Depreciation provided during the year on excess of appraisal value over cost — _o_, 681.98 681.98* Balance at December 31, 1954 $1,080,241.04 .$1061127.63 $23,928.13 .$898t971-32 $16,380.66 $349833.30 * Indicates red figure.. U WATERWORKS FUND COMPARATIVE STATEMENTS OF INCOME AND EXPENSE VILLAGE OF EDINA Years ended December 319 19549 and December 319 1953 Increase 1954 1953 Decrease* --------------------------------------------------------------------------------=---------- Number of meters in use: At end of year At beginning of year Income- Sale of meters Less cost of meters sold GROSS PROFIT ON METERS Water sales Penalties Water connection permits Tapping fees Repair service Street opening fees Use of hydrants Miscellaneous GROSS INCOME Expenses: Pumping: Labor Power and light Supplies Buildings: Labor Fuel Supplies Telephone Equipment rental. Water purchased Provision for depreciation Repairs Distribution: Labor Materials and supplies Operation of meters: Labor Supplies and expenses Equipment rental and outside labor Provision for depreciation Repairs Power 29633 6 89365.50 9 g99 .13 83,97.22 260.75 19,341.50 462.00 101.97 86.00 69050.00 93,023-57 $ 752.43 99265.76 46.53 856.60 256.84 9�.09 1 270.00 694.25 39674.66 82_.79 169163.00 19978.48 29048.69 02 29265 . M ..57 1912555 229599-31 -om 30.79 $309242.41 2,633 29413 69$ 2.00 5993 73,663.43 896.73 1901 .00 1+74-00 20J.90 9 000 49000.00 $809970.4o 6 584.05 109019.41 8.20 812.01 224.23 152.32 142.05 300.00 739-50 29221. 0 6199 33-7-.47 $ 29119.27 29237.47 19890.12 221.76 450.00 109990.14 25.95 17.71 $17.952.42. 100 220 19903.50 1- 703.71 199079 107233-79 635-98* 326.50 12.00* 101.93* 12.00* 29050.00 $129053.17 $ 168.38 753.65* 3$ -33 4+.59 32.61 53, 23* 22.00 a0.00* 5.25* 1,453.36 * 63,17.7* $ 140.79* 188.78* 374.90 27.19* 675055 119609.17 153.08 $129289.99 Expenses (cont'd)-, Administrative and general-, Salarie >s o Superintendent Clerical (General Fund) Meter reading Meter reading supplies Office supplies and postage Audit and accounting service Equipment rental and repairs Insurance Supervision expenses Provision for depreciation TOTAL, OPERATING EXPENSES OPERATING INCOME Other incomeo Income on investments Other deductions-, Amortization of property acquisition and bond issue expense Interest on bonds Fiscal agent's service charge Loss on equipment scrapped - tools NET INCOME Depreciation charges to operations included in expenses (Cont I d) Increase 1954 1953 Decrease* 29058°12 19 93985 1p100o98 752086 550000 380087 30739 39-55 389129-73. 162060 $389292633 59..37.08 28°79 $329923.09 $269649025 $ 19910005 19834070 1,951083 9725 845049 450°00 250000 292066 120075 112077 $359815001• 148007 105.15 31°70 3.73 92'63* 100000 130087 14°73 81°20* fi 622.9-4 S 9923U+5 2931 072. 440.82 278,22* 336, 255,° 83 $ 29036.50 $ 494°04 59107°22 20.22 0 $30960990 $139324021 Note A - Depreciation charges were increased by $89311014 because of a revision in rates effective as of December 319 19540 491+.04* 229°86 57 21, 08* $ 276 e 69* 29313°19 $139325o04(A) Wo WATERWORKS FUND FIXED ASSETS' VILLAGE OF EDINA Year ended December 31, 1954 A s s e i s Balance January 12 1954 Additions Deductions _________________ -_______________Land $ 10092.30 $ 51500.00 Land improvements 11264.74 929.48 Distribution system: Purchased $1659835072 $ 22272.50 Contributed by special assessments 540,018086 3619833.85 Contributed by General Fund 16 80.66 .5722:235.24 T364,106,35 T-0- Buildings and equipment: Pump house buildings $ 152152.90 $ 59.02 Wells , 24,465.59 149732.91 Pumps and piping 31,689021. 51621.24 Tanks and towers. 1092469.70 1,003.85 Office equipment 1,289.22 579.64 $5.00 Miscellaneous equipment 784.75 12481.55 Tools 350.00 9173 5j 201 S 239478.21' 000 §9052436 . 1 3.7, . o00 Construction in progress mom 11.497098 TOTAL $917,093065 $405,512.02 $5.00 Nota A - Balances as of.December 31 1953, have been reclassified in the amount of ,$ 8, 3 510 6. o $ 168,108.22 901,852.71 16 80.66 190 86 ,3 371-79- $ 159211.92 39,198.50 37,310.45 1109473.55 1,863.86 29266.30 150.00 $112939016.17 11,497.98 $1,322,600.67 $ 457059.09(A) 29,251..5�(A) 109. 1 T-771-4 1. $ 2,828.41 49713649 12,649.25 149505-55 273.24 106.04 _oo $lo9,588.42 $ 3,339.44 14,418.71 327.61 $18,085076 $ 607.26 19273.29 1,724.98 4'157.40 217.88 IN-Oft RIP W. $269649..25 $ 48,398.53 431670.28 1+36 °79 moo S 3,435.67 5y986o78. 14,374.23. 19,019.10 $1.63 429.01 323-92 o® 1. 1 1. 3 13 ,07 . 1 O- . $1.63 $136,236.04 6 1192709.69 85 8,182.43 15.943.87 v 77.)9.ww•77 $ 119776.25 33. 211 .72 .22,936.22 91,454045 1,434.85 1,942.38 gpl,l /JJ 17T.L. VV X49 $1,186,364.63 a Allowance for Depreciation Net Balance Balance Balance- Balance December Januar Current December December 319 1954 1, 1954 Provision Deductions1, 1954 31, 1954 $ 15,892.30 _o_ $ _oo $ 159892.30 29194.22 92.60 $ 69.13 161.73 21032049 $ 168,108.22 901,852.71 16 80.66 190 86 ,3 371-79- $ 159211.92 39,198.50 37,310.45 1109473.55 1,863.86 29266.30 150.00 $112939016.17 11,497.98 $1,322,600.67 $ 457059.09(A) 29,251..5�(A) 109. 1 T-771-4 1. $ 2,828.41 49713649 12,649.25 149505-55 273.24 106.04 _oo $lo9,588.42 $ 3,339.44 14,418.71 327.61 $18,085076 $ 607.26 19273.29 1,724.98 4'157.40 217.88 IN-Oft RIP W. $269649..25 $ 48,398.53 431670.28 1+36 °79 moo S 3,435.67 5y986o78. 14,374.23. 19,019.10 $1.63 429.01 323-92 o® 1. 1 1. 3 13 ,07 . 1 O- . $1.63 $136,236.04 6 1192709.69 85 8,182.43 15.943.87 v 77.)9.ww•77 $ 119776.25 33. 211 .72 .22,936.22 91,454045 1,434.85 1,942.38 gpl,l /JJ 17T.L. VV X49 $1,186,364.63 a GARBAGE FUND STATEMENT OF SURPLUS VILLAGE OF EDINA, Year ended December 319 1954 Invested Unappro- in Fixed priated Assets -------------------------------------------------------------------------- - - - - -- - Balance at January 19 -1951+ $41152.82 $ 93.26 Additim: Net income for the year 19382.13 Transfer: To surplus invested in fixed assets Balance at December 319 1951+ * Indicates red figure. 101.65* ,iQi.65 $5,433.30 $194.91 -61- GARBAGE FUND COMPARATIVE STATEMENTS OF INCOME AND EXPENSE VILLAGE OF EDINA Years ended December 31, 1954, and December 31, 1953 Operating income: Service charges and penalties Expenses.- Collection service Administrative and general: Clerical - General Fund Office supplies Publications Auditing Postage Miscellaneous Income from investments TOTAL EXPENSES OPERATING INCOME NET INCOME Increase 195+ 1953 Decrease* $277130.83 $277041.70 6 89.13 $249627.70 $249421.63 $206.07 $ 863.07 6 906.94 6 43.87* 89.56 186.06 96.50* -o- 33.60 33.60* 100.00 100.00 -0- 90.00 -0 90.00 26.8 -o- 26.8o 1.162-43 226. . ff 6 .2 $1 .90 38.40 9 1939 2 7 6 519.77* $ 19382.13 $ 19427.98 $ 45.85* -62- GARBAGE FUND, ANALYSIS _OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 319 1954 Balance at January 19 1954 $ 29618.96 Additions: Collections on customers' accounts $269112.31 Tax settlement received ,M.00 Income from investments 59.Q8 299338 35 Deductions: Expenses for year $25977723 Additions to capital assets 101.65 Refunds to customers 27.15 Accounts payable at January 19 1954 0928 00 7 998.03 Less accounts payable at December 319 1954 20038.10 2599 9.2 Balance at December 319 1954 , $ 39378.42 -63- SEWER BENTAL FUND STATEMENT OF SURPLUS. VILLAGE OF EDINA Year ended December 319 1954 - Invested Unappro- in Fixed priated Assets Balance at January 19 1954 $169769032 $19553.1+2 Additions. Net income for the year 29245.40 Transfers To surplus invested in fixed assets 163.0 Balance at December 319 1954 $189851.17 $19716.97 ---- - - - - -- --- - - - - -- * Indicates red figure. 0 -64- VILLAGE OF EDINA. Years ended December 31, 1954., and December 319 1953 _-------------------------------------------------- - - - - -- Increase 1954 1953 Decrease* Operating incomes Service charges and penalties. Expenses: Operating: Sewer maintenance and treatment Labor Supplies Repairs Water Power Rent of equipment Administrative and general: Clerical - General Fund Stationery and postage Auditing Miscellaneous TOTAL EXPENSES OPERATING INCOME Income from investments NET INCOME $189572.90 $169871.10 619701.80 $139114.82 19968.54 104.01 7.50 200.00 90.63 o- $159485.50 $ 863.07 189.36 100.00 5.70 8. . 19 929.27 316.1 $ 29245.40 $119920.24 - 903.07 16.80 41.20 200.00 115.45 $13,296.76 $ 906.97 169.23 100.00 6.62 8 . 8 $ 2993914.52 $ 29775.54 $19194058 19065.47 87.21. 33.7'` -0- 24.82* $29188.7 $ 43.90* 20.13 ®ov 2* .6 $ 62.25* 6'7.89* $ 530.14* -65- SEWER RENTAL FUND ANALYSIg OF CHANGES IN CASH BALANCE VILLAGE OF EDINA Year ended December 319 1954 Balance at January 19 1954 Additions: Collections on accounts receivable Sale of investments Interest received Tax settlement received Received from other funds: Water Fund Construction Fund General. Fund Joint Sewer District #1 Deductions Expenses Purchase Purchase Payments Accounts 0 for the year of fixed assets of investments to other funds payable at January 19 1954 Less accounts payable at December 319 1954 $ 49597.51 $189440.28 129000000 383082 100°65 $ 16.33 501°60 85000 219, 63000 1086509' —32022Q.68 $377388.19 $162659.96 163055 169000°00. 67032 6 399 024 6 6 .08 01 �y 52��4�025 Balance at December 319 1954 $ 59047°94 M. LIQUOR DISMMILY FUND STAM=, T OF SURRLUS VILLAGE OF EDINA Year ended December 319 1954 Balance at January 19 1954 Add net profit for the year Deducts .Transfers to General Fund Transfer to Park Fund for General Fund Transfer Balance at December 319 1954 # Indicates red figure. Unappro- Invested in Total priated Fixed Assets $1939089020 8 . 6 015 62809458-35 $1199693-93 Oo 2 8156'2494,42 m ®® 81562494.42 $1419747027 8 6 0 62299116.42 $119 9 693-93 4 2'' 0 e 6 $1059152° 9 2418 0 26* $1039134023 $519341.93 651931+1-93 ®o® $519341.93 2,018.26 $539360019 -67- LIQUOR DISPENSARY FUND COMPARATIVE STATEMENT OF INCOME AND EXPENSE VILLAGE OF EDINA Years ended December 31, 1954, and December 31, 1953 ---------------------------------------------------- - - - - -- — =---------------------------- ---------------------------------------------------------- ------------------------------ 1 9 Liquor Wine Beer --------------------------------- - - - - -- ------------------------------------------------- ---------------------------------------------------------------------------------------- Sales Cash average less tag overage - Note A Less bottle refunds - Note B Cost of sales: Inventory January 1st Purchases Inventory December 31st NET SALES GROSS PROFIT PER CENT TO NET SALES "Operating expenses: Salaries: Manager Sales clerks Bookkeeper Provision.for depreciation: Land improvements Buildings Furniture, fixtures, and equipment Repair and maintenance Insurance Light and power Heat Telephone Selling supplies Janitor supplies Office supplies Laundry service Burglar alarm service Audit and accounting Bad checks written off Taxes and licenses Sundry Other income: Interest income on investment $3989842.63 $449081.08 $65,660.54 201.28 18.22 399,0 3.91 $449099-705 660.5 1!161.90 3$99;0+3.91 $449099.70- $64949b.67 $ 659939.97 307.629.33 $3739569.30 66 144.22 530ZS425.06 912.618.83 22.96% $ 7,311.76 30.056.38 $37,368.14 64 $29j803.41 $142.295.89 32.42% 2,898.56 51.572.42 $54,470.98 2.519 . 0 1.9 1.2 $122.547.36 19.45% TOTAL Note A - Cash overages, less the amount by which liquor and wine tags were over register readings, have been allocated to liquor and wine sales in amounts proportionate to the sales. .B - Bottle refunds have been allocated to beer and mix sales in, amounts proportionate to the sales. ------------------------ - --- -- -- - - - -- - - Per Cent scel- 19 Increase to Net .Sales Mix laneous Total Total Decrease* 1954 195-3 $79447-39 $72447-39 _ .11.,_ $79315-T2- � 249.63 . $59316-80 218-57 529100..23 $21215-,19 30.28% $ 516.49 1 . 719779- $282.50 2 1. .o 28.6 2 . 5. 6.2. $220.80 42.75% OPERATING EXPENSES OPERATING INCOME NET INCOME $5169548.13 219.50 $516976763 1.293:87, $5159473-76 $ 769688682 12 1.27 76!705.58 $120.898.07 $ 69683_.00 149388.i:49 261:00 $"239702.49 19485.27 7�4e71 2,341.63 39258017 685.61 543.83. 252'• 73 187.85 703.51 63.$9. 312.84 144085 131.00 800.00 261.27 74.98 1 620 b79313-b7 55.'28 $ 879369.15 $4909329.59 185-75 1 1_. ,3 3.77 $ 83,833.02 16 .016.19 $x+519 849.21 76.682.42 1 $1139196.98 $ 6,108.00 14,452.94 2.576.00 X23,13 •9 0 $ 1,476.00 704.80 29242.65 538.05 786°01 503.33 241.13 174.70 581.05 19.92 4o8..25 141.15 102.00 49.97 222800-94 IS d39396-04 152 7Z. 21 $ 841673.25 $269218.54 2,22.9 857.70* 27,109. 19.408.90 $ 79701.09 $ 575.00 64.45* .00 5• $ -o- 9.27 89.91 99.1b 29100°40* 40.50 11.60 13.15 122.46 43.97 95.41* 3.70 29.00 100.00% 6.. 23.45% 1.30% 2.79 0 0% .01 .29 01 .% 613 .10 .0 .o .14 .01 .06 do 03 100.00% .76.82 23.18% 1.25% 2.96 40-74% .01 .l0 .11 .16 .lo .p .12 .b8 603 .102 ®o_ ' 261.27 25.01 41.56 .3-17b3.26 _ 31917- .16 .05 .01 ._02 6,651 1 .9 % 016 -o- .01 .02 0 17°0 % 13221.93* .001 .26 $ 29695.90 16.95% 17.34% s i LIQUOR DISPENSARY FUND FIXED ASSETS VILLAGE OF EDINA Year ended December 319 1951+ ASSETS Land Land improvements, Building Furnitureq fixture,sq and equipment ALLOWANCES FOR DEPRECIATION Land improvements 'Building Furniture, fixtures, and equipment TOTAL TOTAL Balance Balance January December 19 19;4 Additions 319 1951+ ------------- $169500.00 $ 1951+6023 369900-00 7.151.09 §459597.2 $629097.32 ---------- $2,757008 1.603.01 0.0 $49360609 $ 88800 $1 61.85 69 948�27 33619.99 794-71 $109755-39 $29341.83 .NET BALANCE $169500.00 1-9546-23 399657.08 8.754-10 E493252.41 $6691+57.1+1 $ 309.25 89373.27 14.70 $13.097.22 $539360.19 M CASH - ALL FUNDS VILLAGE OF.EDINA Depository: First Edina National Bank $4009942632 Midland National Sank of Minneapolis 99302.04 TOTAL $4101244.36 * Indicates red figure. Note A Includes $469.48 construction fund cash not yet transferred to construction account. 70- December 31, 1954 Demand For Working Deposit Deposit Funds Total Fund: General: Current $ 919021..67 $ 919021.67 Appropriated $ 150.00 .150.00 Poor: Current 49084.28 42084.28 Park: Current 39767.03* 39767003* Improvements: For bonds and interest $1559570.79 $.1559570079 For construction 115.203.84(A) 3.15.203.84 $2709774.63 9275977 7 ;767 Waterworks: Current $ 59433.48 $ 25.00 $ 59458.48. Appropriated 6.799.38 6 . 8 .12,2' 2e 25. 12,2 7e Garbage: Current ). 3 9378 e?+2 Sewer Rental: Current 59047094 59047.94 Liquor Dispensary,-' Current 272471.59 993202-95 13000.00 374674.54 TOTAL $4109244.36 - - - - -- - - -- $99202.95 $19175.00 --- - - - - -- --- - - - - -- $4209622.31 ----- - - - - -- Depository: First Edina National Bank $4009942632 Midland National Sank of Minneapolis 99302.04 TOTAL $4101244.36 * Indicates red figure. Note A Includes $469.48 construction fund cash not yet transferred to construction account. 70- SECURITY.FOR DEPOSITS VILLAGE OF EDINA December 319 1951+ Demand Deposits Amount: First Edina National Bank $1+009942.3.2 $2409000.00 2009000.00 .3009000.00 109000.00 10 3000.00 TOTAL $4009942.32 $7609000.00 Midland National Bank of Minneapolis $ 99302.04 $ 159000.00 359000.00 10,000.00 TOTAL $ 99302.04 $ 601000.00 Securi.t Y for De' osits escription United States Treasury bonds United States Treasury bonds United States Treasury bonds United States Treasury Series $ note Federal Deposit Insurance Corporation 1 3/8% due June 15; 1958 2 1 /)+_% due June, 15' 1962 2.3/8;4 due June 150 1958 1 3A due December 15y 1955 Certificates of Indebtedness - City of Moorhead 1.9' % Bonds - -Rice County School District No. 1 2.6 % Federal Deposit Insurance Corporation due February 1, 1961+ due January 19 1964 -71- 4 INVESTMENTS VILLAGE OF EDINA December 319 1954 Interest Face Descrivtion Maturity Rate Value United States Treasury Bills February 39 1955 $7509000 United States Treasury Certificates of Indebtedness February 159 1955 .1 5/8% 599000. United States Treasury Notes March 15' 1955 1 1/2 362000 TOTAL $8459000 Balance Balance Janu�, a�rrr�� Sold or December , ls- Purchased Exchanged 318 1921 -Fund ownership. Improvement fund.. Special Assessment Funds $ 419000 $ 489000 $ 529000 $ 379000 .Improvement. Funds 2659000 6689000 3379000 5969000 Construction -0- 1159000 1159000 Debt Service 31.000 31.000 0- 290 $4209000 7+ 90 Waterworks 209000 909000 409000 709000 Sewer rental 169000 269000 229000 209000 'Garbage 29000 79000 79000 29000 Poor m0® .109000 59000 59000 Liquor.Dispensary 502000 502000 mom TOTAL $3949000 -- - - - - -- .$9959000 -- - - - - -- $5449000 -- - - - - -- $8459000 -- - - - -- 072® TAXABLE VALUATIONS, ,TAX LEVIES, AND RATES VILLAGE OF EDINA December 319,.19549 and December 319 1953 ---------------------------------------------- - - - --- 19 1953 Taxable valuations: Real estate Personal property Tax levies extended: Extended in year Collectible in year General Parks Bond and interest Poor Public nursing Firemen's relief Fire protection Tax rate by.mills: General Parks Bond and interest Poor Public nursing Firemen ° s relief Fire protection 41 $12,505,84o.00 122193,287-00 $13,725,827.00 -------- - - - - -- -------------- 1954 1955 $ 299,909_32 279451°65 349314.57 49117.75 39431.46 19Ag2. ;8 6. 2. 1 $ 377 460.24 21.85 2.00 2.50 .30 025 .10 0 27.50 $1192021876.00 1,1,087.83 5.00 $129290.9711.00 -------------- -19R $ 276-1541.00 249581.42 359028.53 ,301.75 31668�87.201 $ 351�514e34 22.50 2.00 2.i85 .30 .10 0 r:..o ®73® 74® ORGANIZATION VILLAGE OF EDINA Year ended December 319 1954' Elected, Term Re- elected or Expired Reappointed to December 31, December 319 ,Village Councils Mayor: Dr. Reuben F. Erickson 1955 1955 Clerk: Evald C. Bank 1954 Gretchen So Alden 1955 Trustees: Fred S. Child 1954 Joseph A. Danens 1955 Arthur C. Bredeson 1953 1956 Frank Jo Tupa 1957 1957 Emil Pe Fronk 1957 1957 Treasurer: John Jo Duggan 1953, 1955 Assessor: Alex Creighton 1954 1955 Constables Bert Me Merfeld 1956 Municipal courts Donald So Burris, Judge 1956 Irving Iverson Special Judge 1956 Village Manager: _Warren C. Hyde Appointed by council Village.Attornzy: John Ho Windhorst 1954 1955 Assistant Village Attorneys-,'','- Curtis Roy 1954 1955 Engineers Joseph Zikan 1955 1955 Deputy Treasurers Bernice Me Johnson 1954 1955 74® OFFICIAL BONDS VILLAGE OF EDINA December 31, 1954 Position Name Term Expires, On file with Deputy Village Clerk: Treasurer Blanket position . On file with County Auditor: Assessor Deputy assessor do do do do do do do do do do do KLJI John J. Duggan Liquor Dispensary employees Alex Creighton Winifred Creighton Dorothy Fischer Millicent R. Towne Elizabeth So Williams Werner Lo Bauer Earl So Johnson William Go Scott A. Co Stringer Luella A. Swan Viola Doty W. E. Ahlberg Elmer Go Eckland December 31, 1954. December 319 1954 May 1, 1954 do do do do June 10, 1954 do do do do do do Bond Expires ------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------- Amount Surety December 319 1955 S 79500000 National Surety Corporation January 289 1955 109000000 Indemnity Insurance Company of North America January 29 1955 500000 Anchor Casualty Company May 19 1955 500000 do do 500000 do do 500000 do do 500000, do do 500.00 do June 109 1955 500000 do. do 500000 do do 500°00 do do 500000 do do 500000 do do 500000 do do 500000 do . - -75- MUNICIPAL COURT FINES VILLAGE OF EDINA Year ended.December 319 1954 -------- _- - - - - -- - Village State Total Fines and costs imposed and collected: Balance uncollected January 19 1954 Fines and costs imposed Collections by Clerk of Court Balance uncollected - December 31.9 1954 Fines due to county and state from General Fund: Balance January 19 1954 Collections by Clerk of Court Payments to state: Clerk of Court General Fund Balance at.December 319 1954 6200 $2 627.00 25.078-75 4 00 ° ° $259705-75 $9 .00 $269204—.7 253109.75 409.00 253518.Z2 $ 596.00 $ 90.°00 $ 686.00 County State Total $ 284.00 $4�6.�00 $ °00 400 2 0 0 O S 6 997�0 $ 30.00 $ 30.00 00 -om §402. 00 1 409.00 $ 284.00 $ 6.50 $ 290.50 -76- INSURANCE VILLAGE OF EDINA December 319 1954 Buildings and contents: Village Hall Tool house - 5150 Brookside Municipal liquor store Water tower - Concord Avenue Water .tower - Wooddale Avenue Pump house #1 Pump house #2 Pump house # Pump house #4 Library -.4120 Caretaker home West 50th Street - 5150 Brookside Fire and Extended Coverage Compre- Public Liability Buildings Contents hensive BodilyInjury Property Damage Other $2059 000 (C ) 259000(C) 30100o(C) 759000(D) 209000 500 (C ) 19500(C) 39250(C) 31700(C) 20,000(C) .59000 $ 2�t000(C) 1 9000 (C ) 59000(C) 29000(C)' 5,000 (c ) 6;000 (C ) Automotive: Highways: '1948 Street sweeper $ 49000 $100 / 3009000 $ 509000 1940 Diesel.-road patrol. 39700 100 / 3009000 509000 1946 Diesel road patrol 99000 100 / 3009000 509000. 1952 Diesel road patrol 15,000 100 / 3009000 509000 1945 M. M. tractor with loader 29000 100 / 3009000 50,000 1951 M. M. tractor with loader 49200 100 / 3009000 509000 1952 Seaman pulvi -mixer 39000 100 / 3009000 509000 1952.Tracavator 1950 International 10 000 100 / 3009000 509000 oil distributor AcUl 100 /.3009000 509000 1951 International 1 1/2 ton truck Actual 100 / 3009000 509000 1946 Ford pickup Actual 100 / 300.000 509000 1946 Ford pickup Actual 100 /, 3009000 50.9000 1947 Ford pickup Actual 100 / 3009000 509000 1942 Reo dump truck Actual 100 / 3009000 509000 1944 GMC dump truck Actual 100 / 3009000 509000 1948 Diamond T dump truck Actual 100 / 3009000 509000 1949 Dodge dump truck Actual 100 / 3009000 509000 1951 1951 International dump truck International dump truck Actual. Actual 100 / 300,000 50,000 100,/, 009000 509000 1952 Martin trailer Actual 100 / 009000 100 09000 1953 International truck Actual 100 / 9000 09000 Police department: 195 Chevrolet tudor Actual 100 / 3009b00 509000 195 Chevrolet tudor Actual 100 / 3009000 509000 .1950 Chevrolet tudor Actual 100 / 3009000 509000 Fire department: 1'42 International fire truck 69000 100 / 3009000 509000 1346 LaFrance fire truck 159000 100./ 3009.000 509000 1948 Willys jeep fire truck 69000 100/ 300000 509000 1951 Ford fire panel 39900 100 / 3009000 509000 -77- INSURANCE (Cont'd) Fire and.Extended Coverage Compre- r Public Liabili.t Buildings Contents _ hensive BodilyInjury Property Damage Other Automotive (cont'd): Engineering: 1952 Ford tudor Actual $100 / 3009000 $ 509000 1951 Chevrolet.carryall Actual 100 / 3009000 50.1000 Water 1940 Checrolet tudor. Actual 100 / 300000 50.9000 Park: 1953 Ford 1 1/2 ton truck Actual 10q_/ 300,000 50,000 Village liquor store: Comprehensive glass breakage Actual Burglary, robbery, and theft,- within premises $ .59000 Burglary, robbery, and theft - outside premises 5000 Burglary, robbery, and theft - merchandise 10 oo0(A) Employees' honesty bond 109000 Public liability 100 / 3009000 50 / 1009000 .Merchandise - stock reporting $1009000 Business interruption 509000(B) Other insurance: Non- ownership - automobile liability 100 / 3009000 501000 Independent contractor - general liability 100 / 300y00o 50 / 1009000 General liability - Village premises - operations 100 / 3009000 50 / 1009000 Edina Volunteer Fire Department group accident policy.- maximum each fireman 3 000 Workmen's compensation Statuory Note A - 40% coinsurance. B - 50% coinsurance. C - 80%" coinsurance. D - 90% coinsurance. 78-